APOLLO PHARMACIES LIMITED,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकर अपील सं./Ita Nos.: 867 & 868/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 Apollo Pharmacies Limited, Deputy Commissioner Of 19, Bishop Gardens, V. Income Tax, Raja Annamalaipuram, Corporate Circle -1(1), Chennai – 600 028. Chennai. [Pan: Aapca-5954-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Suraj Nahar, Ca ""यथ" क" ओर से/Respondent By : Shri. Clement Ramesh Kumar, Cit सुनवाई की तारीख/Date Of Hearing : 01.11.2023 घोषणा की तारीख/Date Of Pronouncement : 01.11.2023 आदेश /O R D E R

68,830/-. :-2-: ITA. Nos: 867 & 868/Chny/2023 The return was processed u/s. 143(1) of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) by CPC on 14.12.2021 and accepted total income declared by the assessee, with a demand notice of Rs. 5,78,43,140/-, towards interest payable u/s. 234A, 234B and 234C of the Act. Thereafter

APOLLO PHARMACIES LIMITED,CHENNAI vs. DCIT, CORPORATE CIRCLE 1(1), CHENNAI

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकर अपील सं./Ita Nos.: 867 & 868/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 Apollo Pharmacies Limited, Deputy Commissioner Of 19, Bishop Gardens, V. Income Tax, Raja Annamalaipuram, Corporate Circle -1(1), Chennai – 600 028. Chennai. [Pan: Aapca-5954-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Suraj Nahar, Ca ""यथ" क" ओर से/Respondent By : Shri. Clement Ramesh Kumar, Cit सुनवाई की तारीख/Date Of Hearing : 01.11.2023 घोषणा की तारीख/Date Of Pronouncement : 01.11.2023 आदेश /O R D E R

68,830/-. :-2-: ITA. Nos: 867 & 868/Chny/2023 The return was processed u/s. 143(1) of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) by CPC on 14.12.2021 and accepted total income declared by the assessee, with a demand notice of Rs. 5,78,43,140/-, towards interest payable u/s. 234A, 234B and 234C of the Act. Thereafter

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:

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. PRAYER For these grounds and such other grounds that

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

20 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells 4.2 We find that in the aforesaid order in the case of the assessee itself for ay 2011-12, the Tribunal has deliberated upon identical issue and considering the decision from Hon’ble Delhi High Court in the case of Dinesh Kumar Goel 197 Taxmann 375 (Del) and arguments from both sides including

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

20 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells 4.2 We find that in the aforesaid order in the case of the assessee itself for ay 2011-12, the Tribunal has deliberated upon identical issue and considering the decision from Hon’ble Delhi High Court in the case of Dinesh Kumar Goel 197 Taxmann 375 (Del) and arguments from both sides including

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

20 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells 4.2 We find that in the aforesaid order in the case of the assessee itself for ay 2011-12, the Tribunal has deliberated upon identical issue and considering the decision from Hon’ble Delhi High Court in the case of Dinesh Kumar Goel 197 Taxmann 375 (Del) and arguments from both sides including

SAHAI & SONS (I) LTD.,CHENNAI vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

NARESH PRASAD AGARWAL,CHENNAI vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

ACIT, CHENNAI vs. NARESH PRASAD AGARWAL, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

ACIT CENTRAL CIRCLE 3(1), CHENNAI vs. SHIV SAHAI & SONS (INDIA) LTD., CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

section 40(a)(i), it is to be further shown as to how the interest income belongs to the PE. The mere existence of the PE cannot by itself lead to the conclusion that the interest income belongs to the PE. While on this issue, we may usefully refer to the following observations made by a coordinate bench

DCIT, CHENNAI vs. HYUNDAI MOTOR INDIA LIMITED, KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

section 40(a)(i), it is to be further shown as to how the interest income belongs to the PE. The mere existence of the PE cannot by itself lead to the conclusion that the interest income belongs to the PE. While on this issue, we may usefully refer to the following observations made by a coordinate bench

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

section 40(a)(i), it is to be further shown as to how the interest income belongs to the PE. The mere existence of the PE cannot by itself lead to the conclusion that the interest income belongs to the PE. While on this issue, we may usefully refer to the following observations made by a coordinate bench

DCIT, CHENNAI vs. HYUNDAI MOTORS INDIA LTD., KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

section 40(a)(i), it is to be further shown as to how the interest income belongs to the PE. The mere existence of the PE cannot by itself lead to the conclusion that the interest income belongs to the PE. While on this issue, we may usefully refer to the following observations made by a coordinate bench

DCIT, CHENNAI vs. HYUNDAI MOTOR INDIA LTD., KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

section 40(a)(i), it is to be further shown as to how the interest income belongs to the PE. The mere existence of the PE cannot by itself lead to the conclusion that the interest income belongs to the PE. While on this issue, we may usefully refer to the following observations made by a coordinate bench

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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI, CHENNAI vs. PERIYASAMY ANBUNATHAN, KARUR

In the result, all the appeals of the Revenue and the assessee are

68,163 2017-18 Total 40,77,13,731 5. The summary of the additions/disallowances in Rupees made by the AO which are in dispute in the cross appeals for AYs 2014-15 to 2017-18 are as follows: Particulars 14-15 15-16 16-17 17-18 Notings found in account book(s) ID marked ANN/FAY/CPA/B&D/S-1 on protective

PERIASAMY ANBUNATHAN,KARUR vs. DCIT, CC-1(4), CHENNAI

In the result, all the appeals of the Revenue and the assessee are partly allowed for statistical purposes and the cross objections of the assessee are dismissed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

68,163 2017-18 - Total 40,77,13,731 5. The summary of the additions/disallowances in Rupees made by the AO which are in dispute in the cross appeals for AYs 2014-15 to 2017-18 are as follows: Particulars 14-15 15-16 16-17 17-18 Notings found in account 273,96,25,060 247,31,20