DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

41 I.TA. Nos.2406 to 2411 & 2825/Chny/2019 14. The ld.AR for the assessee, on the other hand strongly supporting order of the ld.CIT (A) submitted that stand taken by the AO is self-contradictory, because for the purpose of section 68

ITO, NCW - I (4),, CHENNAI vs. SHRI KANAKILLIYANALLUR NARAYANAN NEHRU,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

41 I.TA. Nos.2406 to 2411 & 2825/Chny/2019 14. The ld.AR for the assessee, on the other hand strongly supporting order of the ld.CIT (A) submitted that stand taken by the AO is self-contradictory, because for the purpose of section 68

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

41 I.TA. Nos.2406 to 2411 & 2825/Chny/2019 14. The ld.AR for the assessee, on the other hand strongly supporting order of the ld.CIT (A) submitted that stand taken by the AO is self-contradictory, because for the purpose of section 68

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

41 I.TA. Nos.2406 to 2411 & 2825/Chny/2019 14. The ld.AR for the assessee, on the other hand strongly supporting order of the ld.CIT (A) submitted that stand taken by the AO is self-contradictory, because for the purpose of section 68

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

41 I.TA. Nos.2406 to 2411 & 2825/Chny/2019 14. The ld.AR for the assessee, on the other hand strongly supporting order of the ld.CIT (A) submitted that stand taken by the AO is self-contradictory, because for the purpose of section 68

DCIT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. SHRI KANAKKILIANALLUR NARAYANA REDDIYAR MANIVANNAN,, TIRUPUR

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

41 I.TA. Nos.2406 to 2411 & 2825/Chny/2019 14. The ld.AR for the assessee, on the other hand strongly supporting order of the ld.CIT (A) submitted that stand taken by the AO is self-contradictory, because for the purpose of section 68

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 Act is not attracted to foreign share capital investments is not tenable, due to the fact that in the instant case, the AO has held that it is a circular movement of the assessee's own fund. It is also notable that out of Rs.278.32 crore investments, the share capital was Rs.98.30 crore only

BAREFOOT RESORTS & LEISURES INDIA P LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.Nos.2002 To 2006/Chny/2018 ("नधा"रणवष" / Assessment Years: 2008-09 To 2012-13) M/S. Barefoot Resorts & Leisures India Vs The Deputy Commissioner Of Pvt.Ltd. Income Tax, 77/43, 2Nd Floor, Chamiers Road, Corporate Circle-1(2), Chennai-600 028. Chennai-34. Pan: Aaffb 5380B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant By : Mr. S.Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Mr. P.Sajit Kumar, Jcit सुनवाईक"तार"ख/Date Of Hearing : 04.08.2022 घोषणाक"तार"ख /Date Of Pronouncement : 12.10.2022 आदेश / O R D E R Per G. Manjunatha, Am: This Bunch Of Five Appeals Filed By The Assessee Are Directed Against Common Order Passed By The Learned Commissioner Of Income Tax (Appeals)-1, Chennai Dated 01.06.2018 & Pertain To Assessment Years 2008-09 To 2012- 13. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals Were Heard Together & Are Being Disposed Off, By This Consolidated Order.

section 68 of the lncome tax Act. The credit of sum of Rs. 4,65,84,375/- in the books of the assessee company is therefore treated as "Unaccounted Cash Credit" u/s 68 of the IT Act as in my opinion, the explanation about the nature and source thereof or the explanation offered by the assessee is not satisfactory

BAREFOOT RESORTS & LEISURES INDIA P LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.Nos.2002 To 2006/Chny/2018 ("नधा"रणवष" / Assessment Years: 2008-09 To 2012-13) M/S. Barefoot Resorts & Leisures India Vs The Deputy Commissioner Of Pvt.Ltd. Income Tax, 77/43, 2Nd Floor, Chamiers Road, Corporate Circle-1(2), Chennai-600 028. Chennai-34. Pan: Aaffb 5380B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant By : Mr. S.Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Mr. P.Sajit Kumar, Jcit सुनवाईक"तार"ख/Date Of Hearing : 04.08.2022 घोषणाक"तार"ख /Date Of Pronouncement : 12.10.2022 आदेश / O R D E R Per G. Manjunatha, Am: This Bunch Of Five Appeals Filed By The Assessee Are Directed Against Common Order Passed By The Learned Commissioner Of Income Tax (Appeals)-1, Chennai Dated 01.06.2018 & Pertain To Assessment Years 2008-09 To 2012- 13. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals Were Heard Together & Are Being Disposed Off, By This Consolidated Order.

section 68 of the lncome tax Act. The credit of sum of Rs. 4,65,84,375/- in the books of the assessee company is therefore treated as "Unaccounted Cash Credit" u/s 68 of the IT Act as in my opinion, the explanation about the nature and source thereof or the explanation offered by the assessee is not satisfactory

BAREFOOT RESORTS & LEISURES INDIA P LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.Nos.2002 To 2006/Chny/2018 ("नधा"रणवष" / Assessment Years: 2008-09 To 2012-13) M/S. Barefoot Resorts & Leisures India Vs The Deputy Commissioner Of Pvt.Ltd. Income Tax, 77/43, 2Nd Floor, Chamiers Road, Corporate Circle-1(2), Chennai-600 028. Chennai-34. Pan: Aaffb 5380B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant By : Mr. S.Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Mr. P.Sajit Kumar, Jcit सुनवाईक"तार"ख/Date Of Hearing : 04.08.2022 घोषणाक"तार"ख /Date Of Pronouncement : 12.10.2022 आदेश / O R D E R Per G. Manjunatha, Am: This Bunch Of Five Appeals Filed By The Assessee Are Directed Against Common Order Passed By The Learned Commissioner Of Income Tax (Appeals)-1, Chennai Dated 01.06.2018 & Pertain To Assessment Years 2008-09 To 2012- 13. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals Were Heard Together & Are Being Disposed Off, By This Consolidated Order.

section 68 of the lncome tax Act. The credit of sum of Rs. 4,65,84,375/- in the books of the assessee company is therefore treated as "Unaccounted Cash Credit" u/s 68 of the IT Act as in my opinion, the explanation about the nature and source thereof or the explanation offered by the assessee is not satisfactory

BAREFOOT RESORTS & LEISURES INDIA P LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.Nos.2002 To 2006/Chny/2018 ("नधा"रणवष" / Assessment Years: 2008-09 To 2012-13) M/S. Barefoot Resorts & Leisures India Vs The Deputy Commissioner Of Pvt.Ltd. Income Tax, 77/43, 2Nd Floor, Chamiers Road, Corporate Circle-1(2), Chennai-600 028. Chennai-34. Pan: Aaffb 5380B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant By : Mr. S.Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Mr. P.Sajit Kumar, Jcit सुनवाईक"तार"ख/Date Of Hearing : 04.08.2022 घोषणाक"तार"ख /Date Of Pronouncement : 12.10.2022 आदेश / O R D E R Per G. Manjunatha, Am: This Bunch Of Five Appeals Filed By The Assessee Are Directed Against Common Order Passed By The Learned Commissioner Of Income Tax (Appeals)-1, Chennai Dated 01.06.2018 & Pertain To Assessment Years 2008-09 To 2012- 13. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals Were Heard Together & Are Being Disposed Off, By This Consolidated Order.

section 68 of the lncome tax Act. The credit of sum of Rs. 4,65,84,375/- in the books of the assessee company is therefore treated as "Unaccounted Cash Credit" u/s 68 of the IT Act as in my opinion, the explanation about the nature and source thereof or the explanation offered by the assessee is not satisfactory

BAREFOOT RESORTS & LEISURES INDIA P LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.Nos.2002 To 2006/Chny/2018 ("नधा"रणवष" / Assessment Years: 2008-09 To 2012-13) M/S. Barefoot Resorts & Leisures India Vs The Deputy Commissioner Of Pvt.Ltd. Income Tax, 77/43, 2Nd Floor, Chamiers Road, Corporate Circle-1(2), Chennai-600 028. Chennai-34. Pan: Aaffb 5380B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant By : Mr. S.Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Mr. P.Sajit Kumar, Jcit सुनवाईक"तार"ख/Date Of Hearing : 04.08.2022 घोषणाक"तार"ख /Date Of Pronouncement : 12.10.2022 आदेश / O R D E R Per G. Manjunatha, Am: This Bunch Of Five Appeals Filed By The Assessee Are Directed Against Common Order Passed By The Learned Commissioner Of Income Tax (Appeals)-1, Chennai Dated 01.06.2018 & Pertain To Assessment Years 2008-09 To 2012- 13. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals Were Heard Together & Are Being Disposed Off, By This Consolidated Order.

section 68 of the lncome tax Act. The credit of sum of Rs. 4,65,84,375/- in the books of the assessee company is therefore treated as "Unaccounted Cash Credit" u/s 68 of the IT Act as in my opinion, the explanation about the nature and source thereof or the explanation offered by the assessee is not satisfactory

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

2400/CHNY/2019

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

section 68, when a cash credit entry appears in the appellant's accounts, the appellant is under legal obligation to explain the same that too to the satisfaction of the A.O. In case the appellant did not offer any explanation or fails to tender evidence or burkes an enquiry then the A.O. can hold that income as income from

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

2400/CHNY/2019

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

section 68, when a cash credit entry appears in the appellant's accounts, the appellant is under legal obligation to explain the same that too to the satisfaction of the A.O. In case the appellant did not offer any explanation or fails to tender evidence or burkes an enquiry then the A.O. can hold that income as income from

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

2400/CHNY/2019

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

section 68, when a cash credit entry appears in the appellant's accounts, the appellant is under legal obligation to explain the same that too to the satisfaction of the A.O. In case the appellant did not offer any explanation or fails to tender evidence or burkes an enquiry then the A.O. can hold that income as income from

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

2400/CHNY/2019

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

section 68, when a cash credit entry appears in the appellant's accounts, the appellant is under legal obligation to explain the same that too to the satisfaction of the A.O. In case the appellant did not offer any explanation or fails to tender evidence or burkes an enquiry then the A.O. can hold that income as income from

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

2400/CHNY/2019

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

section 68, when a cash credit entry appears in the appellant's accounts, the appellant is under legal obligation to explain the same that too to the satisfaction of the A.O. In case the appellant did not offer any explanation or fails to tender evidence or burkes an enquiry then the A.O. can hold that income as income from

M/S. SHREE BATTERY HOUSE,,CHENNAI vs. DCIT, CENTRAL CIRCLE - 2 (1),, CHENNAI

2400/CHNY/2019

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

section 68, when a cash credit entry appears in the appellant's accounts, the appellant is under legal obligation to explain the same that too to the satisfaction of the A.O. In case the appellant did not offer any explanation or fails to tender evidence or burkes an enquiry then the A.O. can hold that income as income from