ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

548, 549 (P & H), applying Phool Chand Bajrang Lal v. ITO, (1993) 203 ITR 456 (SC), although the transaction of sale of shares was disclosed and accepted in the original assessment, but the subsequent discovery by the DDI (Investigation) revealed that the transaction was not genuine, a reassessment notice after four years has been held to be valid because there

DCIT, 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 Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.1914/Chny/2019 िनधा"रण वष"/Assessment Year: 2010-11 The Deputy Commissioner Of Vs. M/S. B.V. Reddy Enterprises Pvt. Ltd., Income Tax, New No. 21/Old No. 10A, First Floor, 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 G. Johnson, Addl. Cit ""थ" की ओर से/Respondent By : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 15.09.2022 घोषणा की तारीख /Date Of Pronouncement 04.11.2022 : 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 29.03.2019 Relevant To The Assessment Year 2010-11. 2. Facts Are, In Brief, That The Assessee Filed Its Return Of Income For The Assessment Year 2010-11 On 13.10.2010 Admitting Total Income Of ₹.15,50,25,060/-. The Assessing Officer Has Completed The Assessment Under Section 143(3) Of The Income Tax Act, 1961 [“Act” In Short] Dated

548/- and tax effect: Rs. 20,525/- Total Tax Effect: Rs. 1,52,90,375/- As the assessee has failed to disclose fully and truly all material facts necessary for the assessment, I have reasons to believe that income chargeable to tax has escaped assessment within the meaning of section u/s 147 of the Income Tax Act”. 6.1 We find

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, COIMBATORE

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 548 To 552/Chny/2024 िनधा"रण वष"/Assessment Years: 2014-15 To 2018-19 Shri Mohanraj Deputy Commissioner Of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 Pan: Ahopm-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms.T.M.Suganthamala, Cit सुनवाई क" तारीख/Date Of Hearing : 26.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.03.2025 आदेश /O R D E R Per Bench: These Five Appeals At The Instance Of The Assessee Are Directed Against Five Separate Orders Of Cit(A), Chennai-20, All Dated 16.02.2024, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2014-15 To 2018-19. 2. The Common Issue Is Raised In These Appeals, Hence, They Were Heard Together & Are Being Disposed Off By This Consolidated Order. Identical Grounds Are Raised Except For Variation In Figures.

548 to 552/CHNY/2024 िनधा"रण वष"/Assessment Years: 2014-15 to 2018-19 Shri Mohanraj Deputy Commissioner of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 PAN: AHOPM-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent by : Ms.T.M.Suganthamala, CIT सुनवाई क" तारीख

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, COIMBATORE

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 548 To 552/Chny/2024 िनधा"रण वष"/Assessment Years: 2014-15 To 2018-19 Shri Mohanraj Deputy Commissioner Of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 Pan: Ahopm-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms.T.M.Suganthamala, Cit सुनवाई क" तारीख/Date Of Hearing : 26.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.03.2025 आदेश /O R D E R Per Bench: These Five Appeals At The Instance Of The Assessee Are Directed Against Five Separate Orders Of Cit(A), Chennai-20, All Dated 16.02.2024, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2014-15 To 2018-19. 2. The Common Issue Is Raised In These Appeals, Hence, They Were Heard Together & Are Being Disposed Off By This Consolidated Order. Identical Grounds Are Raised Except For Variation In Figures.

548 to 552/CHNY/2024 िनधा"रण वष"/Assessment Years: 2014-15 to 2018-19 Shri Mohanraj Deputy Commissioner of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 PAN: AHOPM-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent by : Ms.T.M.Suganthamala, CIT सुनवाई क" तारीख

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, CHENNAI

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 548 To 552/Chny/2024 िनधा"रण वष"/Assessment Years: 2014-15 To 2018-19 Shri Mohanraj Deputy Commissioner Of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 Pan: Ahopm-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms.T.M.Suganthamala, Cit सुनवाई क" तारीख/Date Of Hearing : 26.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.03.2025 आदेश /O R D E R Per Bench: These Five Appeals At The Instance Of The Assessee Are Directed Against Five Separate Orders Of Cit(A), Chennai-20, All Dated 16.02.2024, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2014-15 To 2018-19. 2. The Common Issue Is Raised In These Appeals, Hence, They Were Heard Together & Are Being Disposed Off By This Consolidated Order. Identical Grounds Are Raised Except For Variation In Figures.

548 to 552/CHNY/2024 िनधा"रण वष"/Assessment Years: 2014-15 to 2018-19 Shri Mohanraj Deputy Commissioner of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 PAN: AHOPM-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent by : Ms.T.M.Suganthamala, CIT सुनवाई क" तारीख

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, COIMBATORE

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 548 To 552/Chny/2024 िनधा"रण वष"/Assessment Years: 2014-15 To 2018-19 Shri Mohanraj Deputy Commissioner Of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 Pan: Ahopm-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms.T.M.Suganthamala, Cit सुनवाई क" तारीख/Date Of Hearing : 26.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.03.2025 आदेश /O R D E R Per Bench: These Five Appeals At The Instance Of The Assessee Are Directed Against Five Separate Orders Of Cit(A), Chennai-20, All Dated 16.02.2024, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2014-15 To 2018-19. 2. The Common Issue Is Raised In These Appeals, Hence, They Were Heard Together & Are Being Disposed Off By This Consolidated Order. Identical Grounds Are Raised Except For Variation In Figures.

548 to 552/CHNY/2024 िनधा"रण वष"/Assessment Years: 2014-15 to 2018-19 Shri Mohanraj Deputy Commissioner of 76, State Bank Road, Vs. Income Tax, Coimbatore-641 018. Central Circle-3 PAN: AHOPM-2335-H Coimbatore. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Mr. S.Sridhar, Advocate ""यथ" क" ओर से/Respondent by : Ms.T.M.Suganthamala, CIT सुनवाई क" तारीख

MOHANRAJ,COIMBATORE vs. DCIT, CENTRAL CIRCLE 3, COIMBATORE

In the result, all the five appeals filed by the assessee are\nallowed

548 to 552/CHNY/2024\nनिर्धारण वर्ष/Assessment Years: 2014-15 to 2018-19\nShri Mohanraj\n76, State Bank Road,\nCoimbatore-641 018.\nPAN: AHOPM-2335-H\n(अपीलार्थी/Appellant)\nअपीलार्थी की ओर से/Appellant by\n: Mr. S.Sridhar, Advocate\nप्रत्यर्थी की ओर से/Respondent by\n: Ms.T.M.Suganthamala, CIT\nसुनवाई की तारीख/Date of Hearing\n: 26.02.2025\nघोषणा की तारीख/Date

ASSISSTANT COMMISIONER OF INCOME TAX, CHENNAI vs. ESTRA ENTERPRISES PRIVATE LIMITED, CHENNAI

u/s 147 of the Act.\n12. Recently, the Hon'ble jurisdictional High Court in the case of\nACIT Vs Seshasayee Paper and Board Ltd [2023] taxmann.com 432\n(Madras): 455 ITR 291 (Madras) held as under:\n8. We find that there is no illegality or infirmity in the order of the\nlearned Single Judge warranting interference for the following\nreasons

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall-\n\n(a) issue notice to such person requiring

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

147, section 148, section 149, section 151 and section 153, in the\ncase of a person where a search is initiated under section 132 or books of account,\nother documents or any assets are requisitioned under section 132A after the 31st day of\nMay, 2003, the Assessing Officer shall-\n(a) issue notice to such person requiring him to furnish

TMILNAD MERCANTILE BANK LIMITED,TUTICORIN vs. ACIT, CIRCLE-1, , TIRUNELVELI

In the result, appeal filed by the assessee stands allowed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.788/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 V. M/S. Tamilnad Mercantile Bank Ltd., The Acit, 57 V E Road, Circle-1, Tuticorin Central Bus Stand, Tirunelveli. S.O. Thoothukudi, Tuticorin-628 002. [Pan: Aaact 5558 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

548 Dehi, their Lordships have held that if in the regular assessment, the issue for which the re-opening is being resorted to has been looked into by the AO, then, in such an event, the AO shouldn’t re-visit the same on the pretext that a binding decision has been overlooked [refer para 3]; and further pointed

ITO, CHENNAI vs. A. JAGADEESWARI, CHENNAI

In the result, the appeal of the Revenue as well as the cross objection of the assessee are dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकरअपीलसं./I.T.A.No.245/Mds/2017 ("नधा"रणवष" / Assessment Year: 2008-09) Vs Smt. A. Jagadeeswari, The Income Tax Officer, New No.40, Flat No.G-2. Non-Corporate Ward 3(1)(I/C) Jagannathapuram, Iii Street, Chennai – 34. Chetpet, Chennai – 600 031. Pan: Adhpj4253E (अपीलाथ"/Appellant) (""यथ"/Respondent) C.O. No. 30/Mds/2017 (In I.T.A. No.245/Mds/2017) Smt. A. Jagadeeswari, Vs The Income Tax Officer, New No.40, Flat No.G-2. Non-Corporate Ward 3(1)(I/C) Jagannathapuram, Iii Street, Chennai – 34. Chetpet, Chennai – 600 031. Pan: Adhpj4253E (अपीलाथ"/Appellant) (""यथ"/Respondent) राज" की ओर से /Revenue By : Smt. S. Vijayaprabha, Jcit : Shri T. Banusekar, Ca "नधा"रती क" ओर से /Assessee By : 20.09.2017 सुनवाईक"तार"ख/Date Of Hearing : 20.11.2017 घोषणाक"तार"ख /Date Of Pronouncement आदेश / O R D E R

147 of the Act. The assessee has also raised cross objection against the same order of the Ld.CIT(A) supra, on the reopening of the assessment. 2. The Revenue has raised several grounds in its appeal; however the crux of the issue is that the Ld.CIT(A) has erred in allowing the deduction U/s. 80IB(10) of the Act, amounting

TAMILNADU STATE APEX CO-OPERATIVE BANK LTD.,CHENNAI vs. ACIT, CHENNAI

The appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

147 and 250 of the Income Tax Act, 1961 (herein after referred to as ‘the Act’). Since the issue in these two appeals is common in nature, hence these appeals are combined, heard together, and disposed of by a common order for the sake of convenience. 2. The grounds of appeal raised by the assessee are under :- ‘’2. The Learned