ACIT, LTU-2,, CHENNAI vs. ASHOK LEYLAND LIMITED, CHENNAI

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

147 of the Act and disallowed the long term capital loss as well. The Ld. AR invited our attention to the order of the Ld. CIT(A) passed u/s 250 of the Act in relation to the reassessment order u/s 147/143(3) of the Act wherein he upheld the correctness of the long term capital loss as well

SMT. BIMALA DEVI AGARWAL,CHENNAI vs. ACIT,CENTRAL CIRCLE3(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 422/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

147 of the Act is to tax escaped income on account of bogus long term capital gains declared by the assessee, and said reasonable belief has been drawn by the AO on the basis of information received from Income-tax Department, Kolkata. If you go by reasons recorded for re-opening of assessment, the AO noticed that during the course

SHRI VINOD BANSAL,CHENNAI vs. ACI-CENT. CIRCLE-3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkery, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 445/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

147 of the Act is to tax escaped income on account of bogus long term capital gains declared by the assessee, and said reasonable belief has been drawn by the AO on the basis of information received from Income-tax Department, Kolkata. If you go by reasons recorded for re-opening of assessment, the AO noticed that during the course

SMT. SHOBA AGARWAL,CHENNAI vs. ACIT CENT CIRCLE 3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 421/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

147 of the Act is to tax escaped income on account of bogus long term capital gains declared by the assessee, and said reasonable belief has been drawn by the AO on the basis of information received from Income-tax Department, Kolkata. If you go by reasons recorded for re-opening of assessment, the AO noticed that during the course

SMT.RITA AGARWAL ,CHENAI vs. PCIT , CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 433/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

147 of the Act is to tax escaped income on account of bogus long term capital gains declared by the assessee, and said reasonable belief has been drawn by the AO on the basis of information received from Income-tax Department, Kolkata. If you go by reasons recorded for re-opening of assessment, the AO noticed that during the course

PANKAJ AGARWAL,CHENNAI vs. PCIT , CHENAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 434/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

147 of the Act is to tax escaped income on account of bogus long term capital gains declared by the assessee, and said reasonable belief has been drawn by the AO on the basis of information received from Income-tax Department, Kolkata. If you go by reasons recorded for re-opening of assessment, the AO noticed that during the course

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Long Term Capital Gains. 9. The CIT (Appeals) erred in sustaining the levy of interest charged u/s 234A, 234B and 234C of the Act in the computation of taxable total income without assigning proper reasons and justification. 10. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Long Term Capital Gains. 9. The CIT (Appeals) erred in sustaining the levy of interest charged u/s 234A, 234B and 234C of the Act in the computation of taxable total income without assigning proper reasons and justification. 10. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed

ACIT,, CHENNAI vs. SRI. K.SRIKANTH,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Long Term Capital Gains. 9. The CIT (Appeals) erred in sustaining the levy of interest charged u/s 234A, 234B and 234C of the Act in the computation of taxable total income without assigning proper reasons and justification. 10. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed

SHRI K.SRIKANTH,CHENNAI vs. ACIT, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Long Term Capital Gains. 9. The CIT (Appeals) erred in sustaining the levy of interest charged u/s 234A, 234B and 234C of the Act in the computation of taxable total income without assigning proper reasons and justification. 10. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed

M/S APEX TRANSWORLD PRIVATE LIMITED,CHENNAI vs. DCIT CC-1(1), CHENNAI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Mahavir Singh, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.932/Chny/2020 िनधा"रण वष" /Assessment Year: 2011-12 V. M/S.Apex Transworld Pvt. Ltd., The Dy. Commissioner Of 38, 2Nd Main Road, Income Tax, R.A. Puram, Corporate Circle-1(1), Chennai-600 028. Chennai. [Pan: Aadca 7034 L] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant By Mr.K. Ramesh Babu, Ca ""यथ" क" ओर से /Respondent By : Mr. Ar.V.Sreenivasan, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 03.01.2023 घोषणा क" तारीख /Date Of Pronouncement : 11.01.2023

u/s 148 on 27/03/2018. In response to the said notice, the appellant company filed its return of income for the AY 2011-12 on 17/04/2018 admitting NIL Income and declaring short term capital loss from the sale of the property and claiming current year loss of Rs.42,42,155/-, During the reopened assessment proceedings, the assessee claimed that the property

MOSBACHER INDIA LLC,CHENNAI vs. ADDL. DIT, CHENNAI

In the result, the appeal is partly allowed in the terms indicated above

terms of the agreement. (2) Where the business of the assessee consisting of the prospecting for or extraction or production of petroleum and natural gas is transferred wholly or partly or any interest in such business is transferred in accordance with the agreement referred to in sub-section (1), subject to the provisions of the said agreement and where

RAMANATHAN ADAIKALAVAN,COIMBATORE, TAMIL NADU vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./ Ita No.557/Chny/2024 निर्ाारण वर्ा /Assessment Years: 2014-15 Ramanathan Adaikalavan, Deputy Commissioner Of Income Tax, No.80, Ansari Street, Ram Nagar, Non-Corporate Circle-2, Coimbatore-641009. Coimbatore [Pan: Aanpa6846P] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) अपीलार्थी की ओर से/ Assessee By : Shri P.M.Kathir, Advocate. प्रत्यर्थी की ओर से /Revenue By : Ms.Gouthami Manivasagam, Jcit सुिवाई की तारीख/Date Of Hearing : 05.11.2024 घोर्णा की तारीख /Date Of Pronouncement : 06.12.2024 आदेश / O R D E R Per Amitabh Shukla, A.M :

term capital gains. While doing so, it was concluded that the asset sold was depreciable asset on which depreciation was claimed in earlier years. It is the case of the assessee that the reassessment of its case invoking provisions of section 147 / 148 are bad in law. The Ld. Counsel had contended that reassessment of any proceedings on the basis

MUTHUSAMY SHANMUGAM,CHENNAI vs. ITO, INTERNATIONAL TAXATION WARD-2(2), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकर अपील सं./Ita No.362/Chny/2023 िनधा(रण वष( /Assessment Year: 2013-14 Muthusamy Shanmugam, The Income Tax Officer, C/O.Ramesh & Ramachandran, Cas Vs. Ward-2(2), New No.39, Old No.29/3, Chennai. Viswanathapuram Main Road, Kodambakkam, Chennai – 600 024. [Pan: Dghps-7897-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Y. Sridhar, F.C.A ""यथ" क" ओर से /Respondent By : Shri V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 21.09.2023 घोषणा क" तारीख /Date Of Pronouncement : 30.11.2023 आदेश / O R D E R

147 of the Act. f) The reassessment proceedings by the Ld. AO are mere change of opinion as the appellant during the course of regular assessment proceedings u/s.143(3) of the Act submitted all the relevant information proposed to be added in response to the notice issued u/s. 142(1) of the Act during the course of regular scrutiny proceedings

GANESAN KANNAN,THOOTHUKUDI vs. ITI, INTERNATIONAL TAXATION WARD, THOOTHUKUDI

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपीलसं./Ita No.: 698/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19

Long-Term capital Gain on sale of 3,10,742 third property 4. Short Term Capital Gain on sale of 1,34,63,935 1,43,14,139 property I & II Total Assessed Income 1,43,66,879 :-6-: ITA. No:698/Chny/2024 Aggrieved by the final assessment order, the assessee is in appeal before us. 5. The learned

ACIT, CHENNAI vs. B.V.REDDY ENTERPRISES PVT. LTD., CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.3293/Chny/2016 िनधा"रण वष"/Assessment Year: 2008-09 The Assistant Commissioner Of Vs. M/S. B.V. Reddy Enterprises Pvt. Ltd., New No. 21/Old No. 10A, 1St Floor, Income Tax, Corporate Circle 1(2), Umayal Road, Kilpauk, Chennai 600 034. Chennai 600 010. [Pan:Aaccn2252L] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Hema Bhupal, Jcit ""थ" की ओर से/Respondent By : Shri N. Arjunraj, Ca For Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 27.06.2022 घोषणा की तारीख /Date Of Pronouncement 29.07.2022 : आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, Dated 28.09.2016 Relevant To The Assessment Year 2008-09. 2. Facts Are, In Brief, That The Assessee Filed Its Return Of Income For The Assessment Year 2008-09 On 13.09.2008 Disclosing Total Income Of ₹.1,83,53,540/- After Setting Off Of Carry Forward Loss Of ₹.9,67,40,138/-.

Long term capital gains Rs. 22,29,830 20% Short term capital gains (Non STT) Rs. 63,67,846 30% Short term capital gains (STT) Rs.1,09,80,607 10% The total turnover for earning the above capital gain of Rs. 1.95 crores was Rs. 355.95 crores. As per the CBDT Circular No. 4 Dated: 2007 dt. 15th June

RAMASAMI PALANISAMY,TIRUPUR vs. ITO, WARD-2(1), ERODE

In the result, appeal filed by the assessee is allowed

reassessment of\nMr. TSRK for AY 2016-17 by issuance of notice u/s.148A of the Act. The\nnotice issued u/s 148A(b) of the Act upon Mr. TSRK, was objected to by\nthe latter, who pointed out that, the payment of Rs.14 crores to him was\narising from transfer of impugned property in question and that the\ncapital gains derived

SIVASUNDAR SELVAKUMARI,CHENNAI vs. ITO, NCW-1(6), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunatha

147 read with section 144B of the Income Tax Act, 1961 for the Assessment Year 2016-17 dated 16.03.2022. 2. The assessee raised the following grounds of appeal: 1. The CIT(A) erred in upholding the addition of Rs.19,86,16,459/- as Long Term Capital Gain (LTCG) u/s 45 in a summary manner without adverting to the facts

LAGGISETTY MANOHAR KARTHIK,CHENNAI vs. ITO NON CORPORATE WARD 15(2), CHENNAI

In the result the appeal of the assessee is allowed

Bench: Shri Manu Kumar Giri & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 746/Chny/2025 िनधा$रण वष$ / Assessment Year: 2012-13

reassessment order without assigning proper reasons and justification. 3. The NFAC, Delhi failed to appreciate that the assumption of jurisdiction u/s 147 of the Act was without sanction of law and ought to have appreciated that the consequential re-assessment order accordingly should be reckoned as bad in law. :-2-: ITA. No: 746/Chny/2025 4. The NFAC, Delhi failed to appreciate