ACIT, CHENNAI vs. M/S STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

deductible as they are not in contravention of any law. The Madras High Court further found that the expenditure incurred by the assessee towards construction of hockey stadium was for promotion of its business, hence it was allowed as revenue expenditure. In this case before us also the donation of ` 1 Crore was 60. made to Rajiv Gandhi Relief

ACIT, CHENNAI vs. M/S. STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

deductible as they are not in contravention of any law. The Madras High Court further found that the expenditure incurred by the assessee towards construction of hockey stadium was for promotion of its business, hence it was allowed as revenue expenditure. In this case before us also the donation of ` 1 Crore was 60. made to Rajiv Gandhi Relief

M/S. STERLITE INDUSTRIES (INDIA) LTD.,MADURAI vs. ADDITIONAL CIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

deductible as they are not in contravention of any law. The Madras High Court further found that the expenditure incurred by the assessee towards construction of hockey stadium was for promotion of its business, hence it was allowed as revenue expenditure. In this case before us also the donation of ` 1 Crore was 60. made to Rajiv Gandhi Relief

M/S STERLITE INDUSTRIES (INDIA) LTD.,TUTICORIN vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

deductible as they are not in contravention of any law. The Madras High Court further found that the expenditure incurred by the assessee towards construction of hockey stadium was for promotion of its business, hence it was allowed as revenue expenditure. In this case before us also the donation of ` 1 Crore was 60. made to Rajiv Gandhi Relief

SRINIVASA FASHINS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(4), CHENNAI

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

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy)नधा+रण वष+ /Assessment Year: 2014-15 Heard Through Video Conferencing V. M/S.Srinivasa Fashions Pvt. Ltd., The Income Tax Officer, No.57G, Sidco Industrial Estate, Corporate Ward-6(4), Ambattur, Chennai. Chennai-600 098. [Pan: Aaics 9511 R] (अपीलाथ./Appellant) (/0यथ./Respondent) : अपीलाथ. क1 ओर से/ Appellant By Mr.N.Vijay Kumar, Ca : Mr.Ar.V.Sreenivasan, Jcit /0यथ. क1 ओर से /Respondent By : 28.09.2020 सुनवाई क1 तार"ख/Date Of Hearing : 28.09.2020 घोषणा क1 तार"ख /Date Of Pronouncement आदेश / O R D E R Per Ramit Kochar:

section 68 are not invocable in the facts and circumstances of the case. 7. For that the Commissioner of Income Tax (Appeals) erred in concluding that the difference on account of exchange fluctuation in the foreign loan is in the capital field and that the same is not an allowable deduction

ST. JOHN FREIGHT SYSTEMS LTD.,TUTICORIN vs. DCIT CENTRAL CIRCLE 1, MADURAI

In the result appeals filed in ITA Nos

Bench: Shri Mahavir Singh, Hon’Ble & Shri Arun Khodpia, Hon’Bleआयकरअपीलसं./Ita Nos.188 & 2898 To 2900/Chny/2019 िनधा"रणवष"/Assessment Years: 2007-08 To 2010-11 V. M/S.St.John Freight – The Dy. Commissioner- Systems Pvt. Ltd., Of Income Tax, C-98, Sipcot Complex, Central Circle-1, Harbour Express Road, Madurai. Tuticorin-628 008. [Pan:Aaacs 4697 N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Mr.R.Vijayaraghavan, Adv. ""थ" की ओर से /Respondent By : Mr.S.Senthil Kumaran, Cit सुनवाईकीतारीख/Date Of Hearing : 13.03.2023 घोषणाकीतारीख /Date Of Pronouncement : 06.04.2023

68,84,120. This return claimed an deduction of Rs.1,31,84,425 u/s.80IA(4). But, since the original return was not filed in time, the claim of deduction claimed u/s.80IA(4) was denied because of the provisions of section

ST. JOHN FREIGHT SYSTEMS LTD.,TUTICORIN vs. DCIT CENTRAL CIRCLE 1, MADURAI

In the result appeals filed in ITA Nos

Bench: Shri Mahavir Singh, Hon’Ble & Shri Arun Khodpia, Hon’Bleआयकरअपीलसं./Ita Nos.188 & 2898 To 2900/Chny/2019 िनधा"रणवष"/Assessment Years: 2007-08 To 2010-11 V. M/S.St.John Freight – The Dy. Commissioner- Systems Pvt. Ltd., Of Income Tax, C-98, Sipcot Complex, Central Circle-1, Harbour Express Road, Madurai. Tuticorin-628 008. [Pan:Aaacs 4697 N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Mr.R.Vijayaraghavan, Adv. ""थ" की ओर से /Respondent By : Mr.S.Senthil Kumaran, Cit सुनवाईकीतारीख/Date Of Hearing : 13.03.2023 घोषणाकीतारीख /Date Of Pronouncement : 06.04.2023

68,84,120. This return claimed an deduction of Rs.1,31,84,425 u/s.80IA(4). But, since the original return was not filed in time, the claim of deduction claimed u/s.80IA(4) was denied because of the provisions of section

ST. JOHN FREIGHT SYSTEMS LTD.,TUTICORIN vs. DCIT CENTRAL CIRCLE 1, MADURAI

In the result appeals filed in ITA Nos

Bench: Shri Mahavir Singh, Hon’Ble & Shri Arun Khodpia, Hon’Bleआयकरअपीलसं./Ita Nos.188 & 2898 To 2900/Chny/2019 िनधा"रणवष"/Assessment Years: 2007-08 To 2010-11 V. M/S.St.John Freight – The Dy. Commissioner- Systems Pvt. Ltd., Of Income Tax, C-98, Sipcot Complex, Central Circle-1, Harbour Express Road, Madurai. Tuticorin-628 008. [Pan:Aaacs 4697 N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Mr.R.Vijayaraghavan, Adv. ""थ" की ओर से /Respondent By : Mr.S.Senthil Kumaran, Cit सुनवाईकीतारीख/Date Of Hearing : 13.03.2023 घोषणाकीतारीख /Date Of Pronouncement : 06.04.2023

68,84,120. This return claimed an deduction of Rs.1,31,84,425 u/s.80IA(4). But, since the original return was not filed in time, the claim of deduction claimed u/s.80IA(4) was denied because of the provisions of section

ST. JOHN FREIGHT SYSTEMS PVT. LTD.,,TUTUCORIN vs. DCIT, CC-1,, MADURAI

In the result appeals filed in ITA Nos

Bench: Shri Mahavir Singh, Hon’Ble & Shri Arun Khodpia, Hon’Bleआयकरअपीलसं./Ita Nos.188 & 2898 To 2900/Chny/2019 िनधा"रणवष"/Assessment Years: 2007-08 To 2010-11 V. M/S.St.John Freight – The Dy. Commissioner- Systems Pvt. Ltd., Of Income Tax, C-98, Sipcot Complex, Central Circle-1, Harbour Express Road, Madurai. Tuticorin-628 008. [Pan:Aaacs 4697 N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Mr.R.Vijayaraghavan, Adv. ""थ" की ओर से /Respondent By : Mr.S.Senthil Kumaran, Cit सुनवाईकीतारीख/Date Of Hearing : 13.03.2023 घोषणाकीतारीख /Date Of Pronouncement : 06.04.2023

68,84,120. This return claimed an deduction of Rs.1,31,84,425 u/s.80IA(4). But, since the original return was not filed in time, the claim of deduction claimed u/s.80IA(4) was denied because of the provisions of section

M/S AADHI ENTERPRISES PRIVATE LIMITED,CHENNAI vs. ACIT, CENTRAL CIRCLE-3(1), CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.: 308/Chny/2023 िनधा"रण वष"/Assessment Year: 2016-17 Aadhi Enterprises Pvt. Ltd., The Acit, No.1-130, Perambur Barracks V. Central Circle-3(1), Road, Pattalam, Chennai. Chennai – 600 112. Pan: Aanca 0382P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri B. Ramakrishnan, Fca Shri S. Neelakantan, Fca Shri Shrenik Chordia, Ca ""यथ" क" ओर से/Respondent By : Shri S. Senthil Kumaran, Cit सुनवाई क" तारीख/Date Of Hearing : 11.07.2023 घोषणा क" तारीख/Date Of Pronouncement : 23.08.2023

Section 68 of the Income-tax Act states that "Where any sum is found credited in the books of the assessee maintained for any previous year and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited

DEPUTY COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE-1, COIMBATORE, COIMBATORE vs. MS DAR PARADISE PVT. LTD., COIMBATORE

In the result, appeal filed by the revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 1106/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. Dar Paradise Pvt. Ltd., Income Tax, V. 599, Raja Street, Corporate Circle -1, Coimbatore – 641 001. Coimbatore. [Pan: Aafcd-3066-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ" क" ओर से/Respondent By : Shri. N. Arjun Raj, Ca सुनवाई क" तारीख/Date Of Hearing : 05.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.03.2024

section 68, the sum found credited in the books of accounts for which the assessee offers no explanation, the said sum is deemed to be income of the assessee. In the instant case the assessee had explained the source as sales, produced the sale bills and admitted the same as revenue receipt. The assessee is engaged in the jewellery business

DCIT CORPORATE CIRCLE 5(1), CHENNAI vs. REPCO HOME FINANCE P LTD., CHENNAI

In the result, the appeal of Revenue in ITA no

Bench: Shri George Mathan & Shri Ramit Kochar

section 43B of the Act by virtue of Finance Act, 2003 with effect from 1-4-2004 it agreed with the submission of the learned counsel for the assessee that by virtue of the omission of the second proviso and the omission of clauses (a), (c), (d ), (e) and (f) without any saving clause would mean that the provisions were

ARUNA ALLOY STEELS PRIVATES LIMITED,MADURAI vs. ACIT,CORP. CIRCLE-1, MADURAI, MADURAIQ

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

Section 68 of the Act, on the ground that for the purpose of claiming deduction, the assessee did not file

SHANTHILAL D JAIN,,CHENNAI vs. DCIT, CENTRAL CIRCLE - 2 (1),, CHENNAI

2400/CHNY/2019

Bench: Shri Mahavir Singhand Dr. M.L. Meena

deduction of business expenditure is section 37 of the Act. Certain important and relevant deeming sections include Section 40A(3), 40a(ia) and 43B etc. The assessees are under an obligation to adhere to these provisions by way of maintain the requisite documents, books of account and are required to substantiate that the expenditures claimed by them

SHANTHILAL D JAIN,,CHENNAI vs. DCIT, CENTRAL CIRCLE - 2 (1),, CHENNAI

2400/CHNY/2019

Bench: Shri Mahavir Singhand Dr. M.L. Meena

deduction of business expenditure is section 37 of the Act. Certain important and relevant deeming sections include Section 40A(3), 40a(ia) and 43B etc. The assessees are under an obligation to adhere to these provisions by way of maintain the requisite documents, books of account and are required to substantiate that the expenditures claimed by them

SHANTHILAL D JAIN,,CHENNAI vs. DCIT, CENTRAL CIRCLE - 2 (1),, CHENNAI

2400/CHNY/2019

Bench: Shri Mahavir Singhand Dr. M.L. Meena

deduction of business expenditure is section 37 of the Act. Certain important and relevant deeming sections include Section 40A(3), 40a(ia) and 43B etc. The assessees are under an obligation to adhere to these provisions by way of maintain the requisite documents, books of account and are required to substantiate that the expenditures claimed by them

SHANTHILAL D JAIN,,CHENNAI vs. DCIT, CENTRAL CIRCLE - 2 (1),, CHENNAI

2400/CHNY/2019

Bench: Shri Mahavir Singhand Dr. M.L. Meena

deduction of business expenditure is section 37 of the Act. Certain important and relevant deeming sections include Section 40A(3), 40a(ia) and 43B etc. The assessees are under an obligation to adhere to these provisions by way of maintain the requisite documents, books of account and are required to substantiate that the expenditures claimed by them

SHANTHILAL D JAIN,,CHENNAI vs. DCIT, CENTRAL CIRCLE - 2 (1),, CHENNAI

2400/CHNY/2019

Bench: Shri Mahavir Singhand Dr. M.L. Meena

deduction of business expenditure is section 37 of the Act. Certain important and relevant deeming sections include Section 40A(3), 40a(ia) and 43B etc. The assessees are under an obligation to adhere to these provisions by way of maintain the requisite documents, books of account and are required to substantiate that the expenditures claimed by them