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

iii)an entry or entries in the books of account,\nwhich has escaped assessment amounts to or is likely to amount to fifty\nlakh rupees or more:\nProvided that no notice under section 148 shall be issued at any time in\na case for the relevant assessment year beginning on or before 1st day\nof April, 2021, if a notice

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

iii)an entry or entries in the books of account, which has escaped assessment amounts to or is likely to amount which has escaped assessment amounts to or is likely to amount which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more: lakh rupees or more: Provided that no notice under section

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

iii)an entry or entries in the books of account,\nwhich has escaped assessment amounts to or is likely to amount to fifty\nlakh rupees or more:\nProvided that no notice under section 148 shall be issued at any time in\na case for the relevant assessment year beginning on or before 1st day\nof April, 2021, if a notice

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

iii)an entry or entries in the books of account,\nwhich has escaped assessment amounts to or is likely to amount to fifty\nlakh rupees or more:\nProvided that no notice under section 148 shall be issued at any time in\na case for the relevant assessment year beginning on or before 1st day\nof April, 2021, if a notice

DEPUTY COMMISSIONER OF INCOME TAX, NUMGAMBAKKAM vs. JSR INFRA DEVELOPERS PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

III, Bangalore Vs M/s Wipro Limited wherein the Apex Court has ore Vs M/s Wipro Limited wherein the Apex Court has held that the "Revenue is right in submitting that the revised return filed by held that the "Revenue is right in submitting that the revised return filed by held that the "Revenue is right in submitting that the revised

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. DCIT, VILLUPURAM CIRCLE,, VILLUPRUAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. ACIT, CIRCLE-II,, CUDDALORE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. DCIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

THE VILLUPURAM DISTRICT CENTRAL COOPERTATIVE BANK LTD.,,VILLUPURAM vs. DCIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CUDDALLORE vs. M/S VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD., VILLUPURAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. ACIT, CIRCLE-I,, CUDDALORE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

THE CUDDALORE DISTRICT CENTRAL CO-OP BANK LTD.,CUDDALORE vs. DCIT CUDDALORE CIRCLE, CUDDALORE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

III) Further it was noticed that entire advances of rural branches taken into account while determining 109% of aggregate average advances which resulted in excess deduction of Rs.2,60,64,200/-. IV) Without prejudice to above as per the explanation to provisions of section 36(1)(via) of the Act with regard to "rural branch" it has been explained that

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

iii)an entry or entries in the books of account,\nwhich has escaped assessment amounts to or is likely to amount to fifty\nlakh rupees or more:\nProvided that no notice under section 148 shall be issued at any time in\na case for the relevant assessment year beginning on or before 1st day\nof April, 2021, if a notice

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

iii)an entry or entries in the books of account,\nwhich has escaped assessment amounts to or is likely to amount to fifty\nlakh rupees or more:\nProvided that no notice under section 148 shall be issued at any time in\na case for the relevant assessment year beginning on or before 1st day\nof April, 2021, if a notice

DEPUTY COMMISSIONER OF INCOME TAX NON CORP CIRCLE II MADURAI, MADURAI vs. VIRUDHUNAGAR DISTRICT CENTRAL CO OP BANK LIMITED, VIRUDHUNAGAR

reassessment proceedings for those\nyears were pending.\nDuring the assessment proceedings, the assessee originally claimed\ndeduction of Rs.21,03,27,765/-u/s.36(1)(viia), computed at 7.5%\nof total income plus 10% of aggregate average rural advances, as per\nthe statutory formula. The AO observed that the actual provision\ncreated in the books of account for bad and doubtful debts

DEPUTY COMMISSIONER INCOME TAX NON CORP CIRCLE II MADURAI, MADURAI vs. VIRUDHUNAGAR DISTRICT CENTRAL CO OP BANK LIMITED, VIRUDHUNAGAR

reassessment proceedings for those\nyears were pending.\nDuring the assessment proceedings, the assessee originally claimed\ndeduction of Rs.21,03,27,765/-u/s.36(1)(viia), computed at 7.5%\nof total income plus 10% of aggregate average rural advances, as per\nthe statutory formula. The AO observed that the actual provision\ncreated in the books of account for bad and doubtful debts

G-TECH STONE LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 2(1), CHENNAI

The appeal stand allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

36(1)(iii) for Rs.61.85 Lacs. Upon perusal of assessment order, it could 5 ITA 537 to 539 & 580 to 583/Chny/2018 & ITA 3053/Chny/2017 be gathered that while making the additions, Ld. AO has not referred to any incriminating material as found during the course of search operations with respect to these two disallowances. Appellate Proceedings 3.1 During appellate proceedings

ACIT CENTRAL CIRCLE 2 (1) INVESTIGATION WING, CHENNAI vs. M/S G TECH STONE LTD, CHENNAI

The appeal stand allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

36(1)(iii) for Rs.61.85 Lacs. Upon perusal of assessment order, it could 5 ITA 537 to 539 & 580 to 583/Chny/2018 & ITA 3053/Chny/2017 be gathered that while making the additions, Ld. AO has not referred to any incriminating material as found during the course of search operations with respect to these two disallowances. Appellate Proceedings 3.1 During appellate proceedings