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744 results for “section 68”+ Section 36(1)(ii)clear

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Key Topics

Section 4084Section 19561Disallowance55Addition to Income49Deduction40Section 153A28Section 526TDS25Section 13222Section 143(3)

DCIT, CC2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, both the appeals of the Revenue are dismissed and

ITA 1251/CHNY/2025[2021-22]Status: DisposedITAT Chennai12 Sept 2025AY 2021-22

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Appellant: Mr.G. Baskar, AdvocateFor Respondent: Mrs. Yamuna, CIT
Section 132Section 139Section 147Section 148Section 250

68,76,690 21,53,308 7,17,42,510 3,76,53,308 2016-17 98,29,529 30,56,909 8,87,83,560 5,63,13,914 2017-18 1,44,35,318 50,05,920 1,64,84,811 62,86,626 2018-19 1,73,70,240 60,21,575 2,15,16,725 1

Showing 1–20 of 744 · Page 1 of 38

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Section 80I18
Section 14A15

DCIT, CEN CIR 2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, both the appeals of the Revenue are dismissed and

ITA 1252/CHNY/2025[2022-23]Status: DisposedITAT Chennai12 Sept 2025AY 2022-23

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Appellant: Mr.G. Baskar, AdvocateFor Respondent: Mrs. Yamuna, CIT
Section 132Section 139Section 147Section 148Section 250

68,76,690 21,53,308 7,17,42,510 3,76,53,308 2016-17 98,29,529 30,56,909 8,87,83,560 5,63,13,914 2017-18 1,44,35,318 50,05,920 1,64,84,811 62,86,626 2018-19 1,73,70,240 60,21,575 2,15,16,725 1

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

In the result, the appeal of Revenue in ITA no

ITA 2885/CHNY/2017[2013-14]Status: DisposedITAT Chennai17 Jun 2020AY 2013-14

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: JCITFor Respondent: Shri M. Viswanathan, C.A
Section 143(3)Section 14ASection 36(1)Section 36(1)(va)Section 36(1)(viii)

ii) or clause (iii) or clause (iv) or clause (vi) of sub-section (4) of section 80-IA ; and (iii) an undertaking referred to in sub-section (10) of section 80- IB; (h) "long-term finance" means any loan or advance where the terms under which moneys are loaned or advanced provide for repayment along with

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

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

ITA 857/CHNY/2020[2008-09]Status: DisposedITAT Chennai18 Oct 2023AY 2008-09

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

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

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

ITA 856/CHNY/2020[202-13]Status: DisposedITAT Chennai18 Oct 2023

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

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

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

ITA 858/CHNY/2020[2009-10]Status: DisposedITAT Chennai18 Oct 2023AY 2009-10

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

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

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

ITA 854/CHNY/2020[2010-11]Status: DisposedITAT Chennai18 Oct 2023AY 2010-11

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

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

ITA 2645/CHNY/2019[2016-17]Status: DisposedITAT Chennai18 Oct 2023AY 2016-17

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

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

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

ITA 855/CHNY/2020[2011-12]Status: DisposedITAT Chennai18 Oct 2023AY 2011-12

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

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

ITA 981/CHNY/2020[2008-09]Status: DisposedITAT Chennai18 Oct 2023AY 2008-09

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Appellant: Shri K. Ravi, AdvocateFor Respondent: Shri N.B. Som, CIT
Section 143(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 147Section 148Section 36(1)(viia)

68,90,000/- Advances Less : Advances relating to Non-rural branches : Rs. 36,71,13,000/- (as discussed above) Rs.1,41,97,77,000/- ii) 10% of Aggregate Average Rs.14,19,77,700/- Advances Total Deduction u/s.36(viia)(a) 14,95,14,257/- Taxable Income (determined) Loss Rs.4,90,26,827/- Aggrieved, assessee preferred appeal before

INDIAN OVERSEAS BANK,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee appeals ITA Nos

ITA 496/CHNY/2015[2010-2011]Status: DisposedITAT Chennai22 Feb 2016AY 2010-2011

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. R. Vijayaraghavan, Advocate and Shri.C. Naresh, C.AFor Respondent: Shri. Shaji P. Jacob, Adl. CIT
Section 263Section 36Section 36(1)Section 36(1)(viia)

II Balance 4162,76,34,730 Average thereof for 12 months – 346,89,69,560 Rule 6ABA(6) Deduction u/s.36(1)(viia) @10% 34,68,96,956 ITA No.496 & 497/Mds/2015 :- 7 -: Since the bank has made provisions for Bad and Doubtful debts in the books of accounts including standard asset and country-wise risk. As per the provisions it cannot

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

In the result, the appeal of the Revenue is dismissed

ITA 2232/CHNY/2024[2016-17]Status: DisposedITAT Chennai28 Feb 2025AY 2016-17

Bench: Shri Aby T. Varkey & Shri Jagadish

Section 139(1)Section 139(5)Section 153CSection 801ASection 80I

36 taxmann.com 523, wherein the Hon'ble High Court has held that it is not open for the assessee to seek deduction or claim expenditure which has is not open for the assessee to seek deduction or claim expenditure which has is not open for the assessee to seek deduction or claim expenditure which has not been claimed

SHRI. MOOLCHAND KIRAN KUMAR JAIN,CHENNAI vs. DCIT, CENTRAL CIRCLE 1(4), CHENNAI

In the result, appeal filed by the assessee for assessment years 2020-21 & 2021-22 are partly allowed for statistical purposes

ITA 1417/CHNY/2023[2020-21]Status: DisposedITAT Chennai09 Apr 2024AY 2020-21

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1417 & 1418/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22 Shri. Moolchand Kiran Kumar Deputy Commissioner Of Jain, V. Income-Tax, No. 123, Usman Road, Central Circle 1(4), T. Nagar, Chennai – 600 017. Chennai – 600 034. [Pan: Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Anand, Advocate : Shri. V. Nandakumar, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. D. Anand, Advocate
Section 153ASection 28Section 36Section 36(1)(iii)Section 36(1)(vii)Section 36(2)Section 37Section 37(1)

ii) Concept of "borrowed" — Provisions of Section 36(1)(iii) concern capital borrowed and not other debts or liability. A loan of money undoubtedly results in a debt, but every debt does not involve a loan. Liability to :-15-: ITA. No: 511/Chny/2022 pay a debt may arise from diverse sources and a loan is one of such sources

SHRI. MOOLCHAND KIRAN KUMAR JAIN,CHENNAI vs. DCIT, CENTRAL CIRCLE 1(4), CHENNAI, CHENNAI

In the result, appeal filed by the assessee for assessment years 2020-21 & 2021-22 are partly allowed for statistical purposes

ITA 1418/CHNY/2023[2021-22]Status: DisposedITAT Chennai09 Apr 2024AY 2021-22

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1417 & 1418/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22 Shri. Moolchand Kiran Kumar Deputy Commissioner Of Jain, V. Income-Tax, No. 123, Usman Road, Central Circle 1(4), T. Nagar, Chennai – 600 017. Chennai – 600 034. [Pan: Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Anand, Advocate : Shri. V. Nandakumar, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. D. Anand, Advocate
Section 153ASection 28Section 36Section 36(1)(iii)Section 36(1)(vii)Section 36(2)Section 37Section 37(1)

ii) Concept of "borrowed" — Provisions of Section 36(1)(iii) concern capital borrowed and not other debts or liability. A loan of money undoubtedly results in a debt, but every debt does not involve a loan. Liability to :-15-: ITA. No: 511/Chny/2022 pay a debt may arise from diverse sources and a loan is one of such sources

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1803/CHNY/2014[2009-10]Status: DisposedITAT Chennai28 Dec 2016AY 2009-10

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

68,67,030/-. Subsequently, the income was reduced to Rs. 50,72,31,300/- as per the Tribunal Appellate order in ITA No. 770(M.P. No. 209)/Mds/2011 dated 16.12.2011. The Assessing Officer is having information that the assessee's has made payment towards MICR charges without deduction of Tax(TDS) on payments and violates provisions of section 194J

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1804/CHNY/2014[2010-11]Status: DisposedITAT Chennai28 Dec 2016AY 2010-11

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

68,67,030/-. Subsequently, the income was reduced to Rs. 50,72,31,300/- as per the Tribunal Appellate order in ITA No. 770(M.P. No. 209)/Mds/2011 dated 16.12.2011. The Assessing Officer is having information that the assessee's has made payment towards MICR charges without deduction of Tax(TDS) on payments and violates provisions of section 194J

CITY UNION BANK LIMITED,KUMBAKONAM vs. JCIT, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 2035/CHNY/2014[2008-09]Status: DisposedITAT Chennai28 Dec 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

68,67,030/-. Subsequently, the income was reduced to Rs. 50,72,31,300/- as per the Tribunal Appellate order in ITA No. 770(M.P. No. 209)/Mds/2011 dated 16.12.2011. The Assessing Officer is having information that the assessee's has made payment towards MICR charges without deduction of Tax(TDS) on payments and violates provisions of section 194J

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1671/CHNY/2014[2007-08]Status: DisposedITAT Chennai28 Dec 2016AY 2007-08

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

68,67,030/-. Subsequently, the income was reduced to Rs. 50,72,31,300/- as per the Tribunal Appellate order in ITA No. 770(M.P. No. 209)/Mds/2011 dated 16.12.2011. The Assessing Officer is having information that the assessee's has made payment towards MICR charges without deduction of Tax(TDS) on payments and violates provisions of section 194J

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1802/CHNY/2014[2008-09]Status: DisposedITAT Chennai28 Dec 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

68,67,030/-. Subsequently, the income was reduced to Rs. 50,72,31,300/- as per the Tribunal Appellate order in ITA No. 770(M.P. No. 209)/Mds/2011 dated 16.12.2011. The Assessing Officer is having information that the assessee's has made payment towards MICR charges without deduction of Tax(TDS) on payments and violates provisions of section 194J

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1801/CHNY/2014[2008-09]Status: DisposedITAT Chennai28 Dec 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

68,67,030/-. Subsequently, the income was reduced to Rs. 50,72,31,300/- as per the Tribunal Appellate order in ITA No. 770(M.P. No. 209)/Mds/2011 dated 16.12.2011. The Assessing Officer is having information that the assessee's has made payment towards MICR charges without deduction of Tax(TDS) on payments and violates provisions of section 194J