ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 1(1), CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

reassessment proceedings cannot be initiated Ground merely on the basis of Audit objection. 8. The Ld. CIT (A) erred in reopening the assessment of Technical assessee u/s 147 of the Act without there being any Ground new tangible material on record to come to conclusion that there is escapement of income. 9. The Ld. CIT (A) erred in not deleting

M/S. ABAN OFFSHORE LIMITED,CHENNAI vs. DCITCORPORATE CIRCLE1(1), CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

reassessment proceedings cannot be initiated Ground merely on the basis of Audit objection. 8. The Ld. CIT (A) erred in reopening the assessment of Technical assessee u/s 147 of the Act without there being any Ground new tangible material on record to come to conclusion that there is escapement of income. 9. The Ld. CIT (A) erred in not deleting

DCIT CORPORATE CIRCLE 1(1), CHENNAI vs. ABAN OFFSHORE LTD., CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

reassessment proceedings cannot be initiated Ground merely on the basis of Audit objection. 8. The Ld. CIT (A) erred in reopening the assessment of Technical assessee u/s 147 of the Act without there being any Ground new tangible material on record to come to conclusion that there is escapement of income. 9. The Ld. CIT (A) erred in not deleting

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED,CHENNAI vs. DCIT, NON CORP CIRCLE 8, CHENNAI

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.1279/Chny/2024 निर्धारण वर्ष/Assessment Year: 2008-09 M/S. Cholamandalam Ms General- Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) V. The Dcit, Non Corporate Circle-8, Chennai. (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita No.1338/Chny/2024 निर्धारण वर्ष/Assessment Year: 2008-09 The Dcit, Non Corporate Circle-8, Chennai. V. M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) आयकर अपील सं./Ita No.1280/Chny/2024 निर्धारण वर्ष/Assessment Year: 2009-10 M/S. Cholamandalam Ms General- Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) V. The Dcit, Non Corporate Circle-8, Chennai. (प्रत्यर्थी/Respondent)

TP pool as on 01.03.2007 i.e. Rs.174,900,000 - Rs.87,008,000 (Rs.8,78,92,000). These provisions are made merely on the basis of assumptions and quantified on a mathematical method of assumption. The claims on which these provisions are made have not been ascertained and not known to the assessee company while making the provisions. It is merely

DEPUTY COMMISSIONER OF INCOMETAX , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

In the result, appeal filed by the assessee for AY 2011-12 is allowed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

TP pool as on 01.03.2007 i.e. Rs.174,900,000 - Rs.87,008,000 = Rs.8,78,92,000). These provisions are made merely on the basis of assumptions and quantified on a mathematical method of assumption. The claims for which these provisions are made have not been ascertained and not known to the assessee company while making the provisions. It is merely

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED,CHENNAI vs. DCIT, NON CORP CIRCLE 8, CHENNAI

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.1279/Chny/2024 निर्धारण वर्ष/Assessment Year: 2008-09 M/S. Cholamandalam Ms General- V. The Dcit, Insurance Co. Ltd., Non Corporate Circle-8, Dare House, 2Nd Floor, Chennai. No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita No.1338/Chny/2024 निर्धारण वर्ष/Assessment Year: 2008-09 The Dcit, Non Corporate Circle-8, Chennai. V. M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita No.1280/Chny/2024 निर्धारण वर्ष/Assessment Year: 2009-10 M/S. Cholamandalam Ms General- Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) V. The Dcit, Non Corporate Circle-8, Chennai. (प्रत्यर्थी/Respondent)

reassessment: i) The Learned AO erred in reopening the assessment though the information pertaining to IBNR / IBNER was available in the financials submitted in the course of original assessment ii) The Learned AO erred in reopening the assessment for disallowing the unexpired risk reserve in respect of Third Party Motor Pool while the necessary information on the same was provided

DEPUTY COMMISSIONER OF INCOMETAX , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.1279/Chny/2024 निर्धारण वर्ष/Assessment Year: 2008-09 M/S. Cholamandalam Ms General- V. The Dcit, Insurance Co. Ltd., Non Corporate Circle-8, Dare House, 2Nd Floor, Chennai. No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita No.1338/Chny/2024 निर्धारण वर्ष/Assessment Year: 2008-09 The Dcit, Non Corporate Circle-8, Chennai. V. M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) आयकर अपील सं./Ita No.1280/Chny/2024 निर्धारण वर्ष/Assessment Year: 2009-10 M/S. Cholamandalam Ms General- Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) V. The Dcit, Non Corporate Circle-8, Chennai. (प्रत्यर्थी/Respondent)

reassessment: i) The Learned AO erred in reopening the assessment though the information pertaining to IBNR/ IBNER was available in the financials submitted in the course of original assessment ii) The Learned AO erred in reopening the assessment for disallowing the unexpired risk reserve in respect of Third Party Motor Pool while the necessary information on the same was provided

DCIT, CHENNAI vs. M/S. ABAN OFFSHORE LTD., CHENNAI

In the result, appeal filed by the Revenue in ITA

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1812/Chny/2019 &

TP adjustment for lack of reason whereas in the present case, the disallowance of management fee was made after investigation and for lack of genuineness and commercial expediency and distinguishable from that of the relied upon decisions. 2.6. It is submitted that the Revenue has not accepted the decision of the Hon'ble ITAT in the assessee's own case

ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 1(1), CHENNAI

In the result, appeal filed by the Revenue in ITA

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1812/Chny/2019 &

TP adjustment for lack of reason whereas in the present case, the disallowance of management fee was made after investigation and for lack of genuineness and commercial expediency and distinguishable from that of the relied upon decisions. 2.6. It is submitted that the Revenue has not accepted the decision of the Hon'ble ITAT in the assessee's own case

JCIT (OSD), CORPORATE CIRCLE - 1 (1),, CHENNAI vs. M/S. ABAN OFFSHORE LTD.,, CHENNAI

In the result, appeal filed by the Revenue in ITA

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1812/Chny/2019 &

TP adjustment for lack of reason whereas in the present case, the disallowance of management fee was made after investigation and for lack of genuineness and commercial expediency and distinguishable from that of the relied upon decisions. 2.6. It is submitted that the Revenue has not accepted the decision of the Hon'ble ITAT in the assessee's own case

DONGWOO SURFACETECH INDIA LTD.,CHENNAI vs. DCIT,CENTRAL CIRCLE-2(2), CHENNAI

In the result, appeals filed by the assessee for

Bench: Shri V.Durga Rao & Shri G.Manjunatha

reassessment proceedings by issue of notice u/s.148 of the Act.” Merits :- 6. The CIT(A) failed to appreciate that the assessee had made a claim for deduction u/s.40(a)(i) of the ‘supervisory charges’ paid to the parent company of Rs.3,13,07,498 and was not justified in confirming the disallowance. 7. The CIT(A) failed to appreciate that

ACIT (OSD) CORPORATE RANGE 1, CHENNAI vs. DONG WOO SURFACE TECH INDIA PVT. LTD., CHENNAI

In the result, appeals filed by the assessee for

Bench: Shri V.Durga Rao & Shri G.Manjunatha

reassessment proceedings by issue of notice u/s.148 of the Act.” Merits :- 6. The CIT(A) failed to appreciate that the assessee had made a claim for deduction u/s.40(a)(i) of the ‘supervisory charges’ paid to the parent company of Rs.3,13,07,498 and was not justified in confirming the disallowance. 7. The CIT(A) failed to appreciate that

ACIT (OSD) CORPORATE RANGE 1, CHENNAI vs. DONG WOO SURFACE TECH INDIA PVT. LTD., CHENNAI

In the result, appeals filed by the assessee for

Bench: Shri V.Durga Rao & Shri G.Manjunatha

reassessment proceedings by issue of notice u/s.148 of the Act.” Merits :- 6. The CIT(A) failed to appreciate that the assessee had made a claim for deduction u/s.40(a)(i) of the ‘supervisory charges’ paid to the parent company of Rs.3,13,07,498 and was not justified in confirming the disallowance. 7. The CIT(A) failed to appreciate that

DONGWOO SURFACETECH INDIA P LTD,CHENNAI vs. ACIT(OSD),CORPORATE RANGE-1, CHENNAI

In the result, appeals filed by the assessee for

Bench: Shri V.Durga Rao & Shri G.Manjunatha

reassessment proceedings by issue of notice u/s.148 of the Act.” Merits :- 6. The CIT(A) failed to appreciate that the assessee had made a claim for deduction u/s.40(a)(i) of the ‘supervisory charges’ paid to the parent company of Rs.3,13,07,498 and was not justified in confirming the disallowance. 7. The CIT(A) failed to appreciate that

M/S WORLDPART LTD., ,- vs. DCIT, INTNL TAXN CIRCLE-2(2), CHENNAI

In the result, the appeals of the revenue stand dismissed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

method. The appellant applied for such CCDs on its own account, using a portion of the share capital and the interest-free shareholder loan raised from its immediate shareholder. Even after, the investment was made, the appellant continued to have cash balance of USD 1,354,761 available to it. The said CCDs were allotted to the appellant w.e.f

DCIT, INTNL TAXN CIRCLE-2(2), CHENNAI vs. M/S WORLDPART LTD., , NICOSIA

In the result, the appeals of the revenue stand dismissed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

method. The appellant applied for such CCDs on its own account, using a portion of the share capital and the interest-free shareholder loan raised from its immediate shareholder. Even after, the investment was made, the appellant continued to have cash balance of USD 1,354,761 available to it. The said CCDs were allotted to the appellant w.e.f

DCIT, INTNL TAXN CIRCLE-2(2), CHENNAI vs. M/S WORLDPART LTD., , NICOSIA

In the result, the appeals of the revenue stand dismissed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

method. The appellant applied for such CCDs on its own account, using a portion of the share capital and the interest-free shareholder loan raised from its immediate shareholder. Even after, the investment was made, the appellant continued to have cash balance of USD 1,354,761 available to it. The said CCDs were allotted to the appellant w.e.f

M/S WORLDPART LTD., ,- vs. DCIT, INTNL TAXN CIRCLE-2(2), CHENNAI

In the result, the appeals of the revenue stand dismissed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

method. The appellant applied for such CCDs on its own account, using a portion of the share capital and the interest-free shareholder loan raised from its immediate shareholder. Even after, the investment was made, the appellant continued to have cash balance of USD 1,354,761 available to it. The said CCDs were allotted to the appellant w.e.f

M/S WORLDPART LTD., ,- vs. DCIT, INTNL TAXN CIRCLE-2(2), CHENNAI

In the result, the appeals of the revenue stand dismissed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

method. The appellant applied for such CCDs on its own account, using a portion of the share capital and the interest-free shareholder loan raised from its immediate shareholder. Even after, the investment was made, the appellant continued to have cash balance of USD 1,354,761 available to it. The said CCDs were allotted to the appellant w.e.f