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147 results for “reassessment u/s 147”+ Carry Forward of Lossesclear

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Key Topics

Section 143(3)92Section 153A88Section 14867Section 14763Reopening of Assessment44Addition to Income40Section 246A30Disallowance27Reassessment

DCIT, CENTRAL CIRCLE 2(2), CHENNAI vs. N RAMASAMY, CHENNAI

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

ITA 128/CHNY/2019[2016-17]Status: DisposedITAT Chennai29 Dec 2023AY 2016-17

Bench: Shri Mahavir Singh & Shri Manjunatha.Gआयकर अपील सं./I.T.A Nos.127 & 128/Chny/2019 िनधा"रण वष" /Assessment Years : 2015-2016 & 2016-2017 The Deputy Commissioner Of Vs. Shri. N. Ramasamy, Income Tax, No.14/19, Saraswathi Street, Central Circle 2(2), Mahaingapuram, Nungambakkam High Road, Chennai 600 034. Chennai 600 034. [Pan Adupr 8003P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. Nilay Baran Som, Irs, Cit. ""यथ" क" ओर से /Respondent By : Shri. S. Sridhar, Advocate सुनवाई क" तारीख/Date Of Hearing : 18.12.2023. घोषणा क" तारीख /Date Of Pronouncement : 29.12.2023 आदेश / O R D E R Per Mahavir Singh:

For Appellant: Shri. Nilay Baran Som, IRS, CITFor Respondent: Shri. S. Sridhar, Advocate
Section 143Section 143(3)

u/s 153A of the Act. The appeal against the order passed on 2812.2017 was adjudicated by this office in ITA No.34/18-19 dated 28.8.2018 in which, the appeal of the Smt. Radha Narayanan was allowed. The appellant on behalf of Smt. Radha Narayanan had filed the Return of Income for the A.Y.2012-13 admitting a taxable income

Showing 1–20 of 147 · Page 1 of 8

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26
Section 26324
Section 80I21
Section 14A16

DCIT, CENTRAL CIRCLE 2(2), CHENNAI vs. N RAMASAMY, CHENNAI

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

ITA 127/CHNY/2019[2015-16]Status: DisposedITAT Chennai29 Dec 2023AY 2015-16

Bench: Shri Mahavir Singh & Shri Manjunatha.Gआयकर अपील सं./I.T.A Nos.127 & 128/Chny/2019 िनधा"रण वष" /Assessment Years : 2015-2016 & 2016-2017 The Deputy Commissioner Of Vs. Shri. N. Ramasamy, Income Tax, No.14/19, Saraswathi Street, Central Circle 2(2), Mahaingapuram, Nungambakkam High Road, Chennai 600 034. Chennai 600 034. [Pan Adupr 8003P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. Nilay Baran Som, Irs, Cit. ""यथ" क" ओर से /Respondent By : Shri. S. Sridhar, Advocate सुनवाई क" तारीख/Date Of Hearing : 18.12.2023. घोषणा क" तारीख /Date Of Pronouncement : 29.12.2023 आदेश / O R D E R Per Mahavir Singh:

For Appellant: Shri. Nilay Baran Som, IRS, CITFor Respondent: Shri. S. Sridhar, Advocate
Section 143Section 143(3)

u/s 153A of the Act. The appeal against the order passed on 2812.2017 was adjudicated by this office in ITA No.34/18-19 dated 28.8.2018 in which, the appeal of the Smt. Radha Narayanan was allowed. The appellant on behalf of Smt. Radha Narayanan had filed the Return of Income for the A.Y.2012-13 admitting a taxable income

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

ITA 1742/CHNY/2024[2011- 12]Status: DisposedITAT Chennai04 Dec 2024

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

For Appellant: Ms.Komali Krishna, CIT
Section 147Section 250Section 80Section 80C(2)(a)Section 80I

147 is dismissed. 4.0 The next issue raised vide ground of appeal number 2 is regarding the action of Ld CIT (A) in confirming the set off of loss u/s 80 IC in pant nagar unit of Rs 2.12 crores of AY 2010-11 with the income of the said init in AY 2011-12 . The Ld counsel

M/S. ANISHKUMAR MALE CHILD TRUST,CHENNAI vs. ITO, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3256/CHNY/2019[2013-14]Status: DisposedITAT Chennai10 Mar 2021AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

M/S. ANISH KUMAR EDUCATION TRUST,CHENNAI vs. ITO, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3254/CHNY/2019[2013-14]Status: DisposedITAT Chennai10 Mar 2021AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

M/S. ANISH KUMAR FEMALE CHILD TRUST,CHENNAI vs. ITO, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3253/CHNY/2019[2014-15]Status: DisposedITAT Chennai10 Mar 2021AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

ANISH KUMAR WIFE TRUST,CHENNAI vs. ITO, NCW - 11 (1),, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 2849/CHNY/2019[2013-14]Status: DisposedITAT Chennai10 Mar 2021AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

ANISH KUMAR MARRIAGE TRUST,,CHENNAI vs. ITO, NCC - 11 (1),, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3259/CHNY/2019[2014-15]Status: DisposedITAT Chennai10 Mar 2021AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

M/S. ANISHKUMAR MALE CHILD TRUST,CHENNAI vs. ITO, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3257/CHNY/2019[2014-15]Status: DisposedITAT Chennai10 Mar 2021AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

ANISH KUMAR WIFE TRUST,CHENNAI vs. ITO, NCW - 11 (1),, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3251/CHNY/2019[2014-15]Status: DisposedITAT Chennai10 Mar 2021AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

ANISH KUMAR MARRIAGE TRUST,,CHENNAI vs. ITO, NCC - 11 (1),, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3258/CHNY/2019[2013-14]Status: DisposedITAT Chennai10 Mar 2021AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

M/S. ARCHANA FEMALE CHILD TRUST,CHENNAI vs. ITO, NCW - 11 (1),, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3250/CHNY/2019[2014-15]Status: DisposedITAT Chennai10 Mar 2021AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

M/S. ANISH KUMAR FEMALE CHILD TRUST,CHENNAI vs. ITO, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3252/CHNY/2019[2013-14]Status: DisposedITAT Chennai10 Mar 2021AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

M/S. ANISH KUMAR EDUCATION TRUST,CHENNAI vs. ITO, CHENNAI

In the result, the appeals of the assessees are dismissed

ITA 3255/CHNY/2019[2014-15]Status: DisposedITAT Chennai10 Mar 2021AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

Section 147Section 246A

carries the wordings of the old Section 246, lock stock and barrel, with the only difference being that under the new amendment all appeals will lie before the CIT (Appeals) only and not the Deputy Commissioner(Appeals) as it then stood. 4. The crucial phrases are “denies his liability to be assessed” and “under this Act ‘ In this part

JOINT COMMISSIONER OF INCOME TAX(OSD), CORPORATE CIRCLE-1(1), CHENNAI vs. M/S CASAGRAND BUILDER PRIVATE LIMITED, CHENNAI

Appeal stands allowed in terms of our above order

ITA 720/CHNY/2023[2016-17]Status: DisposedITAT Chennai08 Aug 2024AY 2016-17

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.720/Chny/2023 (िनधा*रणवष* / Assessment Year: 2016-17) Jcit(Osd) M/S. Casagrand Premier Builder Limited बनाम Corporate Circle-1(1) (Earlier Known As M/S Casa Grand Builder P. Ltd.) 5Th Floor, Npl Devi, New No.111, Old No.59. Lb Chennai. / Vs. Road, Thiruvanmiyur,Chennai-600 041 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaccc-2758-A (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" की ओर से/ Revenue By : Mrs. Swapna Nanu Ambath & Sh. V. Nanda Kumar Ld. Cit-Drs A/W Shri D. Hema Bhupal (Jcit) – Ld. Sr. Dr " थ" की ओर से/ Assessee By : Shri B. Ramakrishnan (Ca) - Ld.Ar

For Appellant: Shri B. Ramakrishnan (CA) - Ld.ARFor Respondent: Mrs. Swapna Nanu Ambath & Sh. V. Nanda
Section 143(3)Section 147Section 148Section 72

147. The Ld. CIT(A) further held that any loss which is allowed to be carried forward to next year could not be subject matter of adjudication in next year. In subsequent years, act of setting-off is merely a mathematical calculations and act of utilization of carry forward loss could not be adjudicated on standalone basis. The AO should

INTERNATIONAL SEAPORT DREDGING PRIVATE LIMITED,CHENNAI vs. PCIT - 1, CHENNAI

In the result, the appeal of the assessee is allowed

ITA 1597/CHNY/2024[2016-17]Status: DisposedITAT Chennai29 Aug 2024AY 2016-17

Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI (Judicial Member)

For Appellant: Shri. Sriram Seshadri, C.AFor Respondent: Shri. Nilay Baram Som, IRS, CIT
Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 151Section 71Section 79

loss, it does not include unabsorbed depreciation or unabsorbed development rebate. We agree with the High Court." In view of the above decision of Hon’ble Supreme Court in the case of Shri Subhulaxmi Mills Ltd, (supra) the assessee has claimed that the position is thus settled that the carry forward and set off of unabsorbed depreciation is not governed

WHEELS INDIA LTD.,CHENNAI vs. DCIT LTU-2, CHENNAI

The appeal stands partly allowed

ITA 2341/CHNY/2017[2012-13]Status: DisposedITAT Chennai07 Sept 2022AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Sonjoy Sarma

For Appellant: Shri Vikram Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Ms. M.S. Deeptha (JCIT) – Ld. Sr. DR
Section 14ASection 80Section 80I

carried forward and set off against the profits of the eligible business for Asst Year 2012-13. The AO has rightly concluded that the enhanced claim of the appellant on deduction u/s 80IC was not admissible and it was accordingly restricted to Rs.l,15,45,243/-. This ground is dismissed. Upon careful consideration, it could be gathered

INDIAN OVERSEAS BANK,CHENNAI vs. ACIT, LTU-2,, CHENNAI

In the result, both the appeals filed by the assessee are allowed

ITA 1571/CHNY/2024[2017-18]Status: DisposedITAT Chennai18 Dec 2024AY 2017-18

Bench: Shri Manu Kumar Giri, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.: 1570 & 1571/Chny/2024 िनधा"रण वष" / Assessment Years: 2016-17 & 2017-18 Indian Overseas Bank, The Principal Commissioner Of 763, Anna Salai, V. Income Tax, Anna Road, Chennai -4, Chennai – 600 002. Chennai -600 034. [Pan: Aaaci-1223-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. C. Naresh, Ca : Shri. Nilay Baran Som, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 25.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 18.12.2024 आदेश /O R D E R Per S. R. Raghunatha:

For Appellant: Shri. C. Naresh, CA
Section 143(3)Section 147Section 148Section 263

carried forward and not set off against other income as explained in page 16 para 2. The Ld. PCIT has not given any findings as to why the order of the AO is erroneous and prejudicial to the interest of the revenue and accordingly is invalid as per the decisions cited above. 6. Per contra, the ld.DR relied

INDIAN OVERSEAS BANK,CHENNAI vs. DCIT, LTU-2,, CHENNAI

In the result, both the appeals filed by the assessee are allowed

ITA 1570/CHNY/2024[2016-17]Status: DisposedITAT Chennai18 Dec 2024AY 2016-17

Bench: Shri Manu Kumar Giri, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.: 1570 & 1571/Chny/2024 िनधा"रण वष" / Assessment Years: 2016-17 & 2017-18 Indian Overseas Bank, The Principal Commissioner Of 763, Anna Salai, V. Income Tax, Anna Road, Chennai -4, Chennai – 600 002. Chennai -600 034. [Pan: Aaaci-1223-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. C. Naresh, Ca : Shri. Nilay Baran Som, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 25.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 18.12.2024 आदेश /O R D E R Per S. R. Raghunatha:

For Appellant: Shri. C. Naresh, CA
Section 143(3)Section 147Section 148Section 263

carried forward and not set off against other income as explained in page 16 para 2. The Ld. PCIT has not given any findings as to why the order of the AO is erroneous and prejudicial to the interest of the revenue and accordingly is invalid as per the decisions cited above. 6. Per contra, the ld.DR relied

FLSMIDTH PRIVATE LIMITED,CHENNAI vs. PCIT- 1, CHENNAI

In the result, the appeal filed by the assessee is dismissed

ITA 1636/CHNY/2024[2014-15]Status: DisposedITAT Chennai10 Dec 2024AY 2014-15

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.1636/Chny/2024 िनधा:रण वष: /Assessment Year: 2014-15 M/S. Flsmidth Pvt. Ltd., The Principal Commissioner Of No.34, Egatoor, Kelambakkam Vs. Income Tax-1, Rajiv Gandhi Salai, Chennai. Chennai – 603 103. [Pan: Aaacf 4997N]

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Shri Nilay Baran Som, CIT
Section 143(3)Section 147Section 14ASection 263

loss to be carried forward for further orders. iv. The assessee has shown Rs.1,08,26,88,201/- as unearned revenue which have been taxed as income as the assessee followed approval methods. 4. The Ld. PCIT after examining the assessment order passed order u/s. 147 of the Act and the case record has observed that