SRI MAHARAJA REFINERIES,ERODE vs. ACIT, CIRCLE-1, ERODE

5) Where effect to an order under section 250 or section 254 or section 260 or section\n262 or section 263 or section 264 is to be given by the Assessing Officer or the Transfer\nPricing Officer, as the case may be, wholly or partly, otherwise than by making a fresh\nassessment or reassessment

TITAN COMPANY LIMITED,HOSUR vs. ASSISTANT COMMISSIONER OF INCOME TAX - LTU 2 (IC), CHENNAI

In the result the appeal raised by the assessee is partly allowed

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

5) of Section 801A. 7.4 It is further noted that the appellant in its submissions filed before the AO, as reproduced in the impugned reassessment

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED, CHENNAI

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Ble

5) of the Act apply only to transactions in 'commodity', it is respectfully submitted that the provisions of the said section are not at all applicable in the present case for the simple reason that foreign currency is not a trading commodity.” :-17-: ITA. Nos:2613,2732,2820, 2835&2836/Chny/2024 7.3 In the present facts and circumstances of the case

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LTD, CHENNAI

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Ble

5) of the Act apply only to transactions in 'commodity', it is respectfully submitted that the provisions of the said section are not at all applicable in the present case for the simple reason that foreign currency is not a trading commodity.” :-17-: ITA. Nos:2613,2732,2820, 2835&2836/Chny/2024 7.3 In the present facts and circumstances of the case

CHOLAMANDALAM INVESTMENT AND FIANANCE CO. LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

Section 43(5) of the Act, should be allowed as an expenditure. The lower authorities had misinterpreted the nature of these transactions. The Tribunal also decided that the initiation of reassessment

ALTHI VENKATA NARENDRA RAJU,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(2), CHENNAI

In the result, the appeal filed by the assessee in ITA No

5) Where effect to an order under section 250 or section 254 or section 260 or section\n262 or section 263 or section 264 is to be given by the Assessing Officer 22[or the Transfer\nPricing Officer, as the case may be,] 23wholly or partly, otherwise than by making a fresh\nassessment or reassessment

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED, CHENNAI

In the result, the appeal of the Revenue is partly allowed

5) of the Act apply only to\ntransactions in 'commodity', it is respectfully submitted that the\nprovisions of the said section are not at all applicable in the present\ncase for the simple reason that foreign currency is not a trading\ncommodity.”\n:-17-:\nITA. Nos:2613,2732,2820,\n2835&2836/Chny/2024\n7.3 In the present facts and circumstances

INDUSTRIAL MINERAL CO, 100%EOU,TUTICORIN vs. ACIT,CENTRAL CIRCLE-1, MADURAI, MADURAI

In the result, the assessee’s appeal ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.390/Chny/2023 (िनधा(रण वष( / Assessment Year: 2012-13) M/S. Industrial Mineral Co. 100% Eou Acit बनाम/ 1/1C, Harbour Express Highway, Central Circle-(1), Vs. Thermal Nagar So, Tuticorin-628 006. Madurai "थायीलेखासं./जीआइआरसं./Pan/Tan No. Aaafi-9714-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकरअपील सं./ Ita No.529/Chny/2023 (िनधा(रण वष( / Assessment Year: 2012-13) Acit M/S. Industrial Mineral Co. 100% Eou बनाम/ Central Circle-(1), 1/1C, Harbour Express Highway, Vs. Madurai Thermal Nagar So, Tuticorin 628006 "थायीलेखासं./जीआइआरसं./Pan/Tan No. Aaafi-9714-R (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओर से/ Assessee By : Shri N. Arjun Raj (Advocate) – Ld.Ar ""थ" की ओर से/Revenue By : Shri R. Clement Ramesh Kumar (Cit) -Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 26-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 21-05-2025 आदेश / O R D E R

reassess the total income of each of the six assessment years immediately preceding the year in which search action u/s.132 of the Act was initiated or requisition u/s.132A was made. The Ld.CIT(A) failed to appreciate that total income of the assessee cannot be brought to tax if the scope of Section 153A is limited to only undisclosed income

DEPUTY COMMISSIONER OF INCOME-TAX, MADURAI vs. M/S INDUSTRIAL MINERAL CO., 100% EOU, TUTICORIN

In the result, the assessee’s appeal ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.390/Chny/2023 (िनधा(रण वष( / Assessment Year: 2012-13) M/S. Industrial Mineral Co. 100% Eou Acit बनाम/ 1/1C, Harbour Express Highway, Central Circle-(1), Vs. Thermal Nagar So, Tuticorin-628 006. Madurai "थायीलेखासं./जीआइआरसं./Pan/Tan No. Aaafi-9714-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकरअपील सं./ Ita No.529/Chny/2023 (िनधा(रण वष( / Assessment Year: 2012-13) Acit M/S. Industrial Mineral Co. 100% Eou बनाम/ Central Circle-(1), 1/1C, Harbour Express Highway, Vs. Madurai Thermal Nagar So, Tuticorin 628006 "थायीलेखासं./जीआइआरसं./Pan/Tan No. Aaafi-9714-R (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओर से/ Assessee By : Shri N. Arjun Raj (Advocate) – Ld.Ar ""थ" की ओर से/Revenue By : Shri R. Clement Ramesh Kumar (Cit) -Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 26-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 21-05-2025 आदेश / O R D E R

reassess the total income of each of the six assessment years immediately preceding the year in which search action u/s.132 of the Act was initiated or requisition u/s.132A was made. The Ld.CIT(A) failed to appreciate that total income of the assessee cannot be brought to tax if the scope of Section 153A is limited to only undisclosed income

B DEVAHIE,CHENNAI vs. ACIT, CENTRAL CIR-3(3), CHENNAI

The appeals stand allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.3327/Chny/2018 (िनधा;रणवष; / Assessment Year: 2009-10) & 2. आयकरअपील सं./ Ita No.3328/Chny/2018 (िनधा;रणवष; / Assessment Year: 2010-11) Late Smt. B. Devahie Acit (Represented By Dr. Balakrishna Central Circle-3(3), बनाम/ Raja – Legal Representative) Chennai. Vs. 9/16, Venkatesan Street, T. Nagar, Chennai-600 014. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Ahupb-6579-N (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri K.G. Raghunath (Advocate) - Ld. Ar " थ"कीओरसे/Revenue By : Shri A. Sasikumar (Cit) - Ld. Dr सुनवाई की तारीख/Date Of Hearing : 25-02-2025 घोषणा की तारीख /Date Of Pronouncement : 25-02-2025 आदेश / O R D E R Per Bench:

5. We have heard learned counsel for the respective parties at length. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under section 132 or requisition under

B DEVAHIE,CHENNAI vs. ACIT, CENTRAL CIR-3(3), CHENNAI

The appeals stand allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.3327/Chny/2018 (िनधा;रणवष; / Assessment Year: 2009-10) & 2. आयकरअपील सं./ Ita No.3328/Chny/2018 (िनधा;रणवष; / Assessment Year: 2010-11) Late Smt. B. Devahie Acit (Represented By Dr. Balakrishna Central Circle-3(3), बनाम/ Raja – Legal Representative) Chennai. Vs. 9/16, Venkatesan Street, T. Nagar, Chennai-600 014. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Ahupb-6579-N (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri K.G. Raghunath (Advocate) - Ld. Ar " थ"कीओरसे/Revenue By : Shri A. Sasikumar (Cit) - Ld. Dr सुनवाई की तारीख/Date Of Hearing : 25-02-2025 घोषणा की तारीख /Date Of Pronouncement : 25-02-2025 आदेश / O R D E R Per Bench:

5. We have heard learned counsel for the respective parties at length. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under section 132 or requisition under

DCIT, CENTRAL CIR-2(4), CHENNAI vs. D R BALAKRISHNA RAJA, CHENNAI

In the result, ITA Nos.3340 & 3341 /Chny/2018 stand allowed whereas ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.3340/Chny/2018 (िनधा;रणवष; / Assessment Year: 2009-10) & 2. आयकरअपील सं./ Ita No.3341/Chny/2018 (िनधा;रणवष; / Assessment Year: 2010-11) Shri D.R. Balakrishna Raja Acit बनाम/ 9/16, Venkatesan Street, T.Nagar, Central Circle-3(3), Vs. Chennai-600 014. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Agwpd-2354-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 3. आयकरअपील सं./ Ita No.90/Chny/2019 (िनधा;रणवष; / Assessment Year: 2010-11) Dcit Shri D.R.Balakrishna Raja, बनाम/ Central Circle-2(4), 9/16, Venkatesan Street, T.Nagar Vs. Chennai-600 014. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Agwpd-2354-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri K.G. Raghunath (Advocate)-Ld.Ar " थ"कीओरसे/Revenue By : Shri A. Sasikumar (Cit)-Ld. Dr सुनवाई की तारीख/Date Of Hearing : 25-02-2025 घोषणा की तारीख /Date Of Pronouncement : 25-02-2025

5. We have heard learned counsel for the respective parties at length. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under section 132 or requisition under

D R BALAKRISHNA RAJA,CHENNAI vs. ACIT, CENTRAL CIR-3(3), CHENNAI

In the result, ITA Nos.3340 & 3341 /Chny/2018 stand allowed whereas ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.3340/Chny/2018 (िनधा;रणवष; / Assessment Year: 2009-10) & 2. आयकरअपील सं./ Ita No.3341/Chny/2018 (िनधा;रणवष; / Assessment Year: 2010-11) Shri D.R. Balakrishna Raja Acit बनाम/ 9/16, Venkatesan Street, T.Nagar, Central Circle-3(3), Vs. Chennai-600 014. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Agwpd-2354-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 3. आयकरअपील सं./ Ita No.90/Chny/2019 (िनधा;रणवष; / Assessment Year: 2010-11) Dcit Shri D.R.Balakrishna Raja, बनाम/ Central Circle-2(4), 9/16, Venkatesan Street, T.Nagar Vs. Chennai-600 014. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Agwpd-2354-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri K.G. Raghunath (Advocate)-Ld.Ar " थ"कीओरसे/Revenue By : Shri A. Sasikumar (Cit)-Ld. Dr सुनवाई की तारीख/Date Of Hearing : 25-02-2025 घोषणा की तारीख /Date Of Pronouncement : 25-02-2025

5. We have heard learned counsel for the respective parties at length. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under section 132 or requisition under

D R BALAKRISHNA RAJA,CHENNAI vs. ACIT, CENTRAL CIR-3(3), CHENNAI

In the result, ITA Nos.3340 & 3341 /Chny/2018 stand allowed whereas ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.3340/Chny/2018 (िनधा;रणवष; / Assessment Year: 2009-10) & 2. आयकरअपील सं./ Ita No.3341/Chny/2018 (िनधा;रणवष; / Assessment Year: 2010-11) Shri D.R. Balakrishna Raja Acit बनाम/ 9/16, Venkatesan Street, T.Nagar, Central Circle-3(3), Vs. Chennai-600 014. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Agwpd-2354-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 3. आयकरअपील सं./ Ita No.90/Chny/2019 (िनधा;रणवष; / Assessment Year: 2010-11) Dcit Shri D.R.Balakrishna Raja, बनाम/ Central Circle-2(4), 9/16, Venkatesan Street, T.Nagar Vs. Chennai-600 014. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Agwpd-2354-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri K.G. Raghunath (Advocate)-Ld.Ar " थ"कीओरसे/Revenue By : Shri A. Sasikumar (Cit)-Ld. Dr सुनवाई की तारीख/Date Of Hearing : 25-02-2025 घोषणा की तारीख /Date Of Pronouncement : 25-02-2025

5. We have heard learned counsel for the respective parties at length. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under section 132 or requisition under

JESUDASON BIJI ,CHENNAI vs. OFFICE OF INCOME TAX OFFICER INT. TAXN WARD1(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

reassessment proceedings are within the period of limitation prescribed in Section 149 of the Act. It is not acceptable. Section 149 of the Act sets out, inter alia, the time limit for issuing notice under Section 148 of the Act. Apart from the period of limitation set out in the said Section, the first proviso lays down a further restriction

CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED,CHENNAI, TAMIL NADU vs. DEPUTY COMMISSIONER OF INCOME-TAX (DCIT), CHENNAI-1, CHENNAI, TAMIL NADU

In the result, the appeal of the Revenue is partly allowed

5) of the Act apply only to\ntransactions in 'commodity', it is respectfully submitted that the\nprovisions of the said section are not at all applicable in the present\ncase for the simple reason that foreign currency is not a trading\ncommodity.”\n:-16-:\nITA. Nos:2613,2732,2820,\n2835&2836/Chny/2024\n7.3 In the present facts and circumstances

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, COIMBATORE

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 548 To 552/Chny/2024 िनधा"रण वष"/Assessment Years: 2014-15 To 2018-19 Shri Mohanraj Deputy Commissioner Of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 Pan: Ahopm-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms.T.M.Suganthamala, Cit सुनवाई क" तारीख/Date Of Hearing : 26.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.03.2025 आदेश /O R D E R Per Bench: These Five Appeals At The Instance Of The Assessee Are Directed Against Five Separate Orders Of Cit(A), Chennai-20, All Dated 16.02.2024, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2014-15 To 2018-19. 2. The Common Issue Is Raised In These Appeals, Hence, They Were Heard Together & Are Being Disposed Off By This Consolidated Order. Identical Grounds Are Raised Except For Variation In Figures.

reassess the return of the assessee not only for the undisclosed income, which was found during search operation but also with regard to material that as already available at the time of original assessment. (vi). If the Grounds of appeal of the appellant is admitted, that will lead to multiple assessments under various sections of the assessee for the same

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, COIMBATORE

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 548 To 552/Chny/2024 िनधा"रण वष"/Assessment Years: 2014-15 To 2018-19 Shri Mohanraj Deputy Commissioner Of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 Pan: Ahopm-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms.T.M.Suganthamala, Cit सुनवाई क" तारीख/Date Of Hearing : 26.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.03.2025 आदेश /O R D E R Per Bench: These Five Appeals At The Instance Of The Assessee Are Directed Against Five Separate Orders Of Cit(A), Chennai-20, All Dated 16.02.2024, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2014-15 To 2018-19. 2. The Common Issue Is Raised In These Appeals, Hence, They Were Heard Together & Are Being Disposed Off By This Consolidated Order. Identical Grounds Are Raised Except For Variation In Figures.

reassess the return of the assessee not only for the undisclosed income, which was found during search operation but also with regard to material that as already available at the time of original assessment. (vi). If the Grounds of appeal of the appellant is admitted, that will lead to multiple assessments under various sections of the assessee for the same