SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153A(1)(b) states that the assessing officer shall assess or Section 153A(1)(b) states that the assessing officer shall assess or Section 153A(1)(b) states that the assessing officer shall assess or reassess the total income of six years immediately preceding the reassess the total income of six years immediately preceding the reassess the total income

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153A(1)(b) states that the assessing officer shall assess or Section 153A(1)(b) states that the assessing officer shall assess or Section 153A(1)(b) states that the assessing officer shall assess or reassess the total income of six years immediately preceding the reassess the total income of six years immediately preceding the reassess the total income

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

147 of the Act. As a consequence, the timelines for\nsearch related cases qua AYs prior to AY 2021-22, would be governed by\nfirst proviso to Section 149(1)(b) of the Act and therefore the notice for\nreopening the assessment u/s 148 of the Act can be issued, only if such\nAY could have otherwise been validly reopened

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

147 of the Act. As a consequence, the timelines for\nsearch related cases qua AYs prior to AY 2021-22, would be governed by\nfirst proviso to Section 149(1)(b) of the Act and therefore the notice for\nreopening the assessment u/s 148 of the Act can be issued, only if such\nAY could have otherwise been validly reopened

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

147 of the Act. As a consequence, the timelines for\nsearch related cases qua AYs prior to AY 2021-22, would be governed by\nfirst proviso to Section 149(1)(b) of the Act and therefore the notice for\nreopening the assessment u/s 148 of the Act can be issued, only if such\nAY could have otherwise been validly reopened

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

147 of the Act. As a consequence, the timelines for\nsearch related cases qua AYs prior to AY 2021-22, would be governed by\nfirst proviso to Section 149(1)(b) of the Act and therefore the notice for\nreopening the assessment u/s 148 of the Act can be issued, only if such\nAY could have otherwise been validly reopened

SOUTHERN AGRIFURANE INDUSTRIES PVT.. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2), CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

147 of the Act. As a consequence, the timelines for\nsearch related cases qua AYs prior to AY 2021-22, would be governed by\nfirst proviso to Section 149(1)(b) of the Act and therefore the notice for\nreopening the assessment u/s 148 of the Act can be issued, only if such\nAY could have otherwise been validly reopened

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

147 of the Act. As a consequence, the timelines for\nsearch related cases qua AYs prior to AY 2021-22, would be governed by\nfirst proviso to Section 149(1)(b) of the Act and therefore the notice for\nreopening the assessment u/s 148 of the Act can be issued, only if such\nAY could have otherwise been validly reopened

KELLER (M) SDN BHD,CHENNAI vs. DCIT INTL TAX 1(2), CHENNAI, CHENNAI

In the result, the appeal of the assessee stands allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.1319/Chny/2023 (िनधा"रणवष" / Assessment Year: 2018-2019) Vs. The Deputy Commissioner Of Keller (M) Sdn Bhd, Income Tax, 7Th Floor, Centennial Square, International Taxation 1(2) No.6A, Dr. Ambedkar Road, Chennai. Kodambakkam, Chennai 600 024. [Pan: Aagck 8014M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. Ashik Shah, C.A. ""यथ" क" ओर से /Respondent By : Shri. Nilay Baran Som, Irs, Cit.

u/s. 143(3) r.w.s 147 of the IT Act, 1961 is completed as under: Returned Income: Rs.44,86,960/- Assessed Income: Rs.44,86,960/- Income Tax computation sheet and demand notice enclosed’’. The ld. AR further referred the paper book consisting of pages (1-375). The ld. AR specifically pointed out page 232 and page 256 at point 3 which

DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE, MADURAI vs. M/S RAMCO SYSTEMS LIMITED, RAJAPALAYAM

In the result, appeal filed by the Revenue is dismissed

reassessment or by way of rectification of\nmistake. In a case of this nature the Revenue is not without\nremedy. Section 263 of the Act empowers the Commissioner to\nreview an order which is prejudicial to the Revenue.\nIn Bawa Abhai Singh's case [2002] 253 ITR 83 (Delhi), a\nDivision Bench of this court of which

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

253(which has since been accepted and later\nfollowed by Hon'ble Supreme Court), that when a statute requires a\nthing to be done in a particular manner, it must be done in that manner\nor not at all. As discussed at Para 13 (supra), the language of the fourth\nproviso to section 153A of the Act show that issuance

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

253(which has since been accepted and later\nfollowed by Hon'ble Supreme Court), that when a statute requires a\nthing to be done in a particular manner, it must be done in that manner\nor not at all. As discussed at Para 13 (supra), the language of the fourth\nproviso to section 153A of the Act show that issuance

COASTAL ENERGY PVT LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

In the result, both the appeals filed by the assessee as well as Revenue are dismissed

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.1337/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 M/S. Coastal Energy Pvt. Ltd., Vs. The Deputy Commissioner Of No. 4, Buharia Towers, 5Th Floor, Income Tax, Moores Road, Chennai 600 006. Corporate Circle 1(2), Chennai. [Pan:Aaacc4160A] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.1354/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 The Deputy Commissioner Of Vs. M/S. Coastal Energy Pvt. Ltd., No. 4, Buharia Towers, 5Th Floor, Income Tax, Central Circle 1(1), Moores Road, Chennai 600 006. Chennai. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri B. Ramakrishnan, Fca Department By : Shri R. Mohan Reddy, Cit सुनवाई की तारीख/ Date Of Hearing : 26.06.2023 घोषणा की तारीख /Date Of Pronouncement : 06.09.2023 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Order Of The Ld. Commissioner Of Income Tax

253/-. 2.2 Having regard to the holding of the A0 that the provisions for loss on forex fluctuations claimed for of Rs.40,98,03,268/- in this case for A.Y 2009-10, is a contingent liability and that it is not an expenditure having been laid out or expended", the ld. CIT(A) is not justified in giving relief

DCIT CENTRAL CIRCLE 1(1), CHENNAI vs. COASTAL ENERGY PVT LTD., CHENNAI

In the result, both the appeals filed by the assessee as well as Revenue are dismissed

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.1337/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 M/S. Coastal Energy Pvt. Ltd., Vs. The Deputy Commissioner Of No. 4, Buharia Towers, 5Th Floor, Income Tax, Moores Road, Chennai 600 006. Corporate Circle 1(2), Chennai. [Pan:Aaacc4160A] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.1354/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 The Deputy Commissioner Of Vs. M/S. Coastal Energy Pvt. Ltd., No. 4, Buharia Towers, 5Th Floor, Income Tax, Central Circle 1(1), Moores Road, Chennai 600 006. Chennai. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri B. Ramakrishnan, Fca Department By : Shri R. Mohan Reddy, Cit सुनवाई की तारीख/ Date Of Hearing : 26.06.2023 घोषणा की तारीख /Date Of Pronouncement : 06.09.2023 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Order Of The Ld. Commissioner Of Income Tax

253/-. 2.2 Having regard to the holding of the A0 that the provisions for loss on forex fluctuations claimed for of Rs.40,98,03,268/- in this case for A.Y 2009-10, is a contingent liability and that it is not an expenditure having been laid out or expended", the ld. CIT(A) is not justified in giving relief

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, INCOME TAX OFFICE, TRICHY vs. RAMASAMY MOOLIMANGALAM VAISHNAVA PRIYA, CHENNAI

In the result, all the three appeals of the Revenue are dismissed

147,\nsection 148, section 149, section 151 and section 153, in the case of a\nperson where a search is initiated under section 132 or books of account,\nother documents or any assets are requisitioned under section 132A after\nthe 31st day of May, 2003 [but on or before the 31st day of March, 2021],\nthe Assessing Officer shall

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1, TRICHY, INCOME TAX OFFICE, TRICHY vs. KARUPPANNA GOUNDER PALANIAPPA GOUNDER MARIAPPAN, KARUR

In the result, all the three appeals of the Revenue are dismissed

147,\nsection 148, section 149, section 151 and section 153, in the case of a\nperson where a search is initiated under section 132 or books of account,\nother documents or any assets are requisitioned under section 132A after\nthe 31st day of May, 2003 [but on or before the 31st day of March, 2021],\nthe Assessing Officer shall

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, INCOME TAX OFFICE,TRICHY vs. MARAGATHAMANI SHANMUGAM, KARUR

In the result, all the three appeals of the Revenue are dismissed

147,\nsection 148, section 149, section 151 and section 153, in the case of a\nperson where a search is initiated under section 132 or books of account,\nother documents or any assets are requisitioned under section 132A after\nthe 31st day of May, 2003 [but on or before the 31st day of March, 2021],\nthe Assessing Officer shall

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance