ACIT, NUNGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon'Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 Integrated Service Point Ltd., (Formerly Integrated Service Point Vs. Pvt. Ltd.,) The Dy./Asst. Commissioner Of Income Tax, Central Circle-2(4), Chennai. 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./ Ita Nos.1874, 1876 & 1879/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 The Dy./Asst. Commissioner Of Income Tax, Central Circle-2(4), Chennai. Integrated Service Point Ltd., (Formerly Integrated Service Point Vs. Pvt. Ltd.,) 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr. Y. Sridhar, Fca प्रत्यर्थी की ओर से /Revenue By : Mr. Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 13.10.2025 घोषण की तारीख / Date Of Pronouncement : 30.12.2025 :- 2 -:

4A) r.w.s 292C of IT Act provide for a presumption that the contents of documents found during the course of search are true and though such presumption is rebuttable, the onus is on the assessee to furnish evidence or explanations to rebut the same with supportive corroborative evidences. 9. For these grounds and any other ground including amendment of grounds

INTEGRATED SERVICE POINT LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(4), CHENNAI

Accordingly, the assessee’s appeals in ITA Nos. 1881, 1882, and 1883/Chny/2025 for A.Ys. 2016-17, 2019-20, and 2022-23 are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 िनधा;रण वष; /Assessment Years: 2016-17, 2019-20 & 2022-23

4A) r.w.s 292C of IT Act provide for a presumption that the contents of documents found during the course of search are true and though such presumption is rebuttable, the onus is on the assessee to furnish evidence or explanations to rebut the same with supportive corroborative evidences. 9. For these grounds and any other ground including amendment of grounds

ACIT, CHENNAI vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Accordingly, the assessee’s appeals in ITA Nos. 1881, 1882, and 1883/Chny/2025 for A.Ys. 2016-17, 2019-20, and 2022-23 are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 िनधा;रण वष; /Assessment Years: 2016-17, 2019-20 & 2022-23

4A) r.w.s 292C of IT Act provide for a presumption that the contents of documents found during the course of search are true and though such presumption is rebuttable, the onus is on the assessee to furnish evidence or explanations to rebut the same with supportive corroborative evidences. 9. For these grounds and any other ground including amendment of grounds

ACIT, NUNAGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon'Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 Integrated Service Point Ltd., (Formerly Integrated Service Point Vs. Income Tax, Pvt. Ltd.,) The Dy./Asst. Commissioner Of Central Circle-2(4), 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P Chennai. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./ Ita Nos.1874, 1876 & 1879/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 The Dy./Asst. Commissioner Of Integrated Service Point Ltd., Income Tax, Central Circle-2(4), Chennai. (Formerly Integrated Service Point Vs. Pvt. Ltd.,) 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr. Y. Sridhar, Fca प्रत्यर्थी की ओर से /Revenue By Mr. Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing घोषणा की तारीख / Date Of Pronouncement 13.10.2025 30.12.2025 - : 2 -:

4A) r.w.s 292C of IT Act provide for a presumption that the contents of documents found during the course of search are true and though such presumption is rebuttable, the onus is on the assessee to furnish evidence or explanations to rebut the same with supportive corroborative evidences. 9. For these grounds and any other ground including amendment of grounds

NARESH PRASAD AGARWAL,CHENNAI vs. DCIT, CHENNAI

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

68 of the Act. Nevertheless, as per the ld. Departmental Representative, ld. Commissioner of Income Tax (Appeals) fell in error in allowing telescoping of such peak bullion margin money, with the recorded sales. As per the ld. Departmental Representative, telescoping was already allowed by the ld. Assessing Officer, against suppressed sales. Ld. Departmental Representative pointed out that Department

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

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

68 of the Act. Nevertheless, as per the ld. Departmental Representative, ld. Commissioner of Income Tax (Appeals) fell in error in allowing telescoping of such peak bullion margin money, with the recorded sales. As per the ld. Departmental Representative, telescoping was already allowed by the ld. Assessing Officer, against suppressed sales. Ld. Departmental Representative pointed out that Department

ACIT, CHENNAI vs. NARESH PRASAD AGARWAL, CHENNAI

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

68 of the Act. Nevertheless, as per the ld. Departmental Representative, ld. Commissioner of Income Tax (Appeals) fell in error in allowing telescoping of such peak bullion margin money, with the recorded sales. As per the ld. Departmental Representative, telescoping was already allowed by the ld. Assessing Officer, against suppressed sales. Ld. Departmental Representative pointed out that Department

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

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

68 of the Act. Nevertheless, as per the ld. Departmental Representative, ld. Commissioner of Income Tax (Appeals) fell in error in allowing telescoping of such peak bullion margin money, with the recorded sales. As per the ld. Departmental Representative, telescoping was already allowed by the ld. Assessing Officer, against suppressed sales. Ld. Departmental Representative pointed out that Department

A GOVINDARAJ, DEPUTY COMMISSIONER OF INCOMETAX, CENTRAL CIRCLE-2, MADURAI, CENTRAL RANGE, MADURAI vs. INDIAN OCEAN GARNET SANDS COMPANY PRIVATE LIMITED, TUTICORIN

In the result, all the appeals of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.199 To 203/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 To 2017-18 V. The Dcit, M/S. Indian Ocean Garnet Central Circle-2, Sands Co. Pvt. Ltd., Madurai. No.146, Palayamkottai Road, Tuticorin-628 003. [Pan: Aaaci 4083 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

68,240/- made towards unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail backups seized during the course of search in the case of M/s.V V backups seized during the course of search in the case of M/s.V V backups seized during the course

A GOVINDARAJ, DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI, CENTRAL RANGE, MADURAI vs. INDIAN OCEAN GARNET SANDS COMPANY PRIVATE LIMITED, TUTICORIN

In the result, all the appeals of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.199 To 203/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 To 2017-18 V. The Dcit, M/S. Indian Ocean Garnet Central Circle-2, Sands Co. Pvt. Ltd., Madurai. No.146, Palayamkottai Road, Tuticorin-628 003. [Pan: Aaaci 4083 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

68,240/- made towards unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail backups seized during the course of search in the case of M/s.V V backups seized during the course of search in the case of M/s.V V backups seized during the course

A GOVINDARAJ, DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI, CENTRAL RANGE, MADURAI vs. INDIAN OCEAN GARNET SANDS COMPANY PRIVATE LIMITED, TUTICORIN

In the result, all the appeals of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.199 To 203/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 To 2017-18 V. The Dcit, M/S. Indian Ocean Garnet Central Circle-2, Sands Co. Pvt. Ltd., Madurai. No.146, Palayamkottai Road, Tuticorin-628 003. [Pan: Aaaci 4083 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

68,240/- made towards unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail backups seized during the course of search in the case of M/s.V V backups seized during the course of search in the case of M/s.V V backups seized during the course

A GOVINDARAJ, DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI, CENTRAL RANGE, MADURAI vs. INDIAN OCEAN GARNET SANDS COMPANY PRIVATE LIMITED, TUTICORIN

In the result, all the appeals of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.199 To 203/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 To 2017-18 V. The Dcit, M/S. Indian Ocean Garnet Central Circle-2, Sands Co. Pvt. Ltd., Madurai. No.146, Palayamkottai Road, Tuticorin-628 003. [Pan: Aaaci 4083 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

68,240/- made towards unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail backups seized during the course of search in the case of M/s.V V backups seized during the course of search in the case of M/s.V V backups seized during the course

A GOVINDARAJ, DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI, CENTRAL RANGE, MADURAI vs. INDIAN OCEAN GARNET SANDS COMPANY PVT LTD, TUTICORIN

In the result, all the appeals of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.199 To 203/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 To 2017-18 V. The Dcit, M/S. Indian Ocean Garnet Central Circle-2, Sands Co. Pvt. Ltd., Madurai. No.146, Palayamkottai Road, Tuticorin-628 003. [Pan: Aaaci 4083 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

68,240/- made towards unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail unaccounted sales quantified on the basis of mail backups seized during the course of search in the case of M/s.V V backups seized during the course of search in the case of M/s.V V backups seized during the course

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI, MADURAI vs. TRANSWORLD GARNET INDIA PVT LTD.,, CHENNAI

4A) has to be avoided. In other words, presumption only supplements factual evidence available in the seized material or collected on enquiry but it does not supplant the evidence. 7.3.11 The appellant in this case has clearly demonstrated that the provisions made for mine development expenses are legitimate. The AO's decision appears to be based on assumptions rather than

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI, MADURAI vs. TRANSWORLD GARNET INDIA PVT LTD.,, CHENNAI

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:1872, 1873, 1875, 1877 & 1878/Chny/2025 निर्धारण वर्ष / Assessment Years: 2013-14, 2014-15, 2015-16, 2016-17 & 2017-18 Acit, Central Circle -2, Madurai. Vs. Transworld Garnet India Pvt. Ltd., 500, Pantheaon Road, Egmore S.O., Chennai - 600 008. [Pan: Aaact-3408-N] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By : Shri. R.Venkata Raman, C.A. प्रत्यर्थी की ओर से/Respondent By : Shri. Shiva Srinivas, C.I.T. सुनवाई की तारीख /Date Of Hearing : 24.09.2025 घोषणा की तारीख/Date Of Pronouncement : 23.10.2025 आदेश /Order Per S. R. Raghunatha, Am : These Five Appeals Preferred By The Revenue Are Directed Against The Orders Passed By The Learned Commissioner Of Income Tax (Appeals)-19, Chennai [Hereinafter Referred To As “The Id.Cit(A)”]. The Impugned Orders Of The Id.Cit(A) Arise Out Of The Assessment Orders Framed By The Assistant Commissioner Of Income Tax, Central Circle-2, Madurai [Hereinafter Referred To As “The Ao”], In Respect Of The Assessment Years 2013-14 To 2017-18. The Particulars Of The Respective Appeals Filed By The Revenue Are Set Out Hereinbelow:- S. No

4A) has to be avoided. In other words, presumption only supplements factual evidence available in the seized material or collected on enquiry but it does not supplant the evidence. 7.3.11 The appellant in this case has clearly demonstrated that the provisions made for mine development expenses are legitimate. The AO's decision appears to be based on assumptions rather than

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI, CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

In the result, all appeals filed by the assessee are allowed and the appeals of the Revenue are dismissed

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

68 :: 10.04.2017 and that the assessee’s search also did not yield any such evidence, as suggested in the foregoing. According to the Ld. AR therefore, it was prima facie clear that Shri CPA had falsely asserted against the assessee and when he understood that his testimony regarding the proof of delivery of cash would not withstand the test

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

68 ::\n10.04.2017 and that the assessee’s search also did not yield any such\nevidence, as suggested in the foregoing. According to the Ld. AR\ntherefore, it was prima facie clear that Shri CPA had falsely asserted\nagainst the assessee and when he understood that his testimony\nregarding the proof of delivery of cash would not withstand the test

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI

68 :: \nITA No.1321/Chny/2025 & Others \nR. Viswanathan\nsum of cash which was withdrawn from the bank accounts of his finance\nfirms, whose entries were also appearing in his account book(s). Taking\nus through the contents of the seized account book(s), the Ld. AR showed\nus that the net entries corresponding qua the withdrawals and the code

SMT. LINGAMMAL RAMARAJU SHASTRA PRATHISHTA TRUST,RAJAPALAYAM vs. ACIT (EXEMPTIONS), COIMBATORE

4A) of the Act, it failed the test of the first condition namely "the business is incidental to the attainment of the objectives of the trust". The Ld. CIT(E) further observed that, alternatively, if it is considered that, the assessee's activities of running a library and music school are not education and that it falls under the last