M/S. UPDATER SERVICES LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(3), CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

68,89,00,000 under Section 56(2)(viia) of the Act; and o Disallowance of interest expenditure of INR 5,70,62,500 under

VAANI ESTATES PVT LTD.,CHENNAI vs. ITO CORPORATE WARD 3(4), CHENNAI

In the result appeal of the assessee is allowed

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.1352/Chny/2018 (िनधा"रण वष" / Assessment Year: 2014-15) M/S. Vaani Estates Pvt. Ltd., Vs The Ito, No.60, Old No.100, Iv Street, Corporate Ward – 3(4), Abhiramapuram, Chennai Chennai – 600 018. Pan: Aaecv0933A (अपीलाथ"/Appellant) (""यथ"/Respondent)

68,600/- to the income of the assessee. 5. Before the Ld.CIT(A), the Ld.AR made the following submissions:- “The Appellant Company had only two shareholders viz Mrs. Sasikala Raghupathy and her husband Mr. B. G. Raghupathy (each holding 5000 shares). On passing away of E.G. Raghupathy, his 5000 shares devolved on her daughter Mrs. Vani Raghupathy. Therefore Mrs. Sasikala

ASSISTANT COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM vs. R K M POWERGEN PRIVATE LIMITED, T NAGAR

In the result the appeal of the revenue for the both the

68 and also in view of the decisions of Hon'ble Supreme Court in PCIT v Bharat Securities [2020] 113 taxmann.com 32 (SC) and PCIT v Rohtak Chain Co P Ltd [2019] 110 taxmann.com 59 (SC),Bombay High Court in CIT v Gagandeep Infrastructure P Ltd f2017] 80 taxmann.com 272 (Bombay) and CIT v Green Infra Ltd [2017] 78 taxmann.com

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. R K M POWERGEN PVT. LTD., CHENNAI

In the result the appeal of the revenue for the both the\n

68.\n7.5.12 The appellant further stated that the AO made the\naddition of the share premium u/s 56(1) on the reason\nthat that the share premium of Rs.240 was huge and\ninflated. In other words, the AO has concluded that the fair\nvalue of the share was only Rs.10 without any valuation by\nhim and that he has come

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

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

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

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

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

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

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

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

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

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

56,443 Non Statutory reserve released :Rs. 47,44,730 Total : Rs.3,47,01, 173 The release of above amounts during the previous year relevant to assessment year 2008-09 related to reserves created in earlier years. Prior to assessment year 2008-09 i.e. upto assessment year 2007-08 the bank was entitled to claim deduction under Section

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

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

THE DHARMAPURI DISTRICT CENTRAL CO-OP. BANK LTD.,DHARMAPURI vs. JCIT, SALEM

The appeal stand partly allowed for statistcial purposes to the extent indicated in the order

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./ Ita No.1188/Chny/2016 (िनधा1रण वष1 / Assessment Year: 2008-09) The Dharmapuri District Central Jcit बनाम/ Co-Operative Bank Ltd. Range-Iii No.81/10H, Bye Pass Road, Salem. Vs. Dharmapuri – 636 701 "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaaat-3148-D (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओरसे/ Assessee By : Shri T. Vasudevan (Advocate) – Ld. Ar ""थ" की ओरसे/Revenue By : Shri Arv Sreenivasan (Addl.Cit) – Ld. Dr सुनवाई की तारीख/ : 19-04-2022 Date Of Hearing घोषणा की तारीख / : 13-07.2022 Date Of Pronouncement

viia) advances and based on (Col. 8=2-3-6) Year 7.50% of actual Gross Income recovery of ^ [Not to apply NPAs for AY.07-08 in the absence of release of (Col. 3+6) provision] 1 2