M/S. MAHINDRA RESIDENTIAL DEVELOPERS LTD.,,KANCHIPURAM vs. ITO, CORPORATE WARD - 4 (1),, CHENNAI

In the result, the appeals of the assessee for AYs 2012-13, 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.870/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 & आयकर अपील सं./Ita Nos.338 & 339/Chny/2020 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

housing facilities not only for the management and office staff but also for the workers of the Special Economic Zones Units: (11) The Special Economic Zone shall be deemed to be a port, airport, inland container deport, land customs station under section 7 of the Customs Act in accordance with the provisions of section 53 from the date notified

AMBATTUR CLOTHING LIMITED,CHENNAI vs. DCIT COMPANY CIRCLE 1(1), CHENNAI

In the result the appeal of the assessee is allowed

House: Li & Fung India Pvt Ltd)\nwherein it is apparent that pricing of the product has been directly negotiated and\nfixed by Assessee with its third party customer without the involvement of its AE.\nThus, the contention of the Assessee that the international transaction is undertaken\non the basis of back to back invoicing is explicitly clear and factually found

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

Transfer Pricing Orders for Assessment Years 2013-14 and 2014-15 are 01.02.2017 and 20.12.2018 respectively, well after the search.\n8.1 In such cases, it is now settled law by authoritative pronouncements of the hon'ble Supreme Court that any assessments under Sections 153A/153C in respect of unabated assessments must be based on incriminating materials obtained during search proceeding

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

transfer pricing\nreport.\nTwo crucial facts must be noted:\n1. The assessment for Assessment Years 2013-14 and 2014-15\nwere originally concluded under Section 143(3) on\n31.3.2017 and 21.12.2016 respectively. As such the\nassessments under Section 153C are unabated assessments.\n2. The date of the search is 23.11.2015. The dates of the\nTransfer Pricing Orders for Assessment Years

M/S. MAHINDRA RESIDENTIAL DEVELOPERS LTD.,,KANCHIPURAM vs. ITO, CORPORATE WARD - 4 (1),, CHENNAI

In the result, the appeals of the assessee for AYs 2012-13, 2013-14\n& 2014-15 stands dismissed

housing facilities not only for the management and office staff\nbut also for the workers of the Special Economic Zone Units:\n(11) The Special Economic Zone shall be deemed to be a port, airport,\ninland container depot, land customs station under section 7 of the\nCustoms Act in accordance with the provisions of section 53 from the\ndate notified

PENUPETRUNI CHINNA RAO,CHENNAI vs. ITO, INTERNATIONAL TAXATION, WARD-1(1), CHENNAI

In the result, the appeal stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.401/Chny/2022 (िनधा*रण वष* / Assessment Year: 2016-17) Mr. Penupatruni Chinna Rao Ito बनाम 8, Pughs Road, Sundaram Salai, International Taxation, / Vs. R.A. Puram, Chennai-600 028. Ward-1(1), Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aecpc-1481-R (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Ms. N.V. Lakshmi (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Shri D. Hema Bhupal (Jcit)- Ld. Sr. Dr सुनवाईकीतारीख/Date Of Final Hearing : 04-03-2024 घोषणाकीतारीख /Date Of Pronouncement : 25-04-2024 आदेश / O R D E R

transfer 19.40% of UDS for a sale consideration of Rs.900 Lacs. The builder was to pay 36 monthly payments of Rs.4 Lacs each totalling to Rs.144 Lacs. The balance amount of Rs.756 Lacs was to be adjusted towards cost of construction of owner’s share. The owner has agreed to pay balance sum of Rs.295.33 Lacs (Rs.1051.33 Lacs minus Rs.756

M/S GIMPEX PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-1(2), CHENNAI

Appeals stands dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manomohan Das

price on a future date. A forward contract can be used for hedging or speculation, although its non-standardized nature makes it particularly apt for hedging. The assessee had entered into forward contract with the aim to safeguard against the foreign exchange fluctuation on its revenue receipts from foreign parties. Further, the transaction being hedging transactions, it would fall under

DCIT,CENTRAL CIRCLE 1(2), CHENNAI vs. M/S.GIMPEX LIMITED , CHENNAI

Appeals stands dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manomohan Das

price on a future date. A forward contract can be used for hedging or speculation, although its non-standardized nature makes it particularly apt for hedging. The assessee had entered into forward contract with the aim to safeguard against the foreign exchange fluctuation on its revenue receipts from foreign parties. Further, the transaction being hedging transactions, it would fall under

SEVUGAN PETHAPERUMAL,MADURAI vs. PCIT, MADURAI-1,, MADURAI

In the result, the appeal of the assessee is allowed

Bench: Shri George George K & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1196/Chny/2025 Assessment Years: 2020-21 Sevugan Pethaperumal, Principal Commissioner Of Income No.41, First Main Street, Tax, Narayanapuram West, Madurai-1, Madurai, Madurai. Tamil Nadu-625 014. [Pan: Afjpp5984J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Shri G.Tarun, Advocate प्रत्यर्थी की ओर से /Revenue By : Shri Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 06.08.2025 घोषणा की तारीख /Date Of Pronouncement : 25.08.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

house property and was wrongly offered as income from other sources. While doing so, reliance was placed upon certain judicial precedents on the subject. In para 11 of his order, he concluded that the Ld.AO has failed to do requisite enquiries and verification into the issue and hence the order passed by him falls into the category of the same

DCIT CORPORATE CIRCLE 1(1), CHENNAI vs. ABAN OFFSHORE LTD., CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

house property, the assessee is allowed deduction under section 24 of the Act on account of interest paid on the borrowed funds utilized for acquiring the immovable property. Similarly, when the income is to be computed under the head "Profits and gains from business or profession", the deduction account of interest on borrowed fund is provided under section

ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 1(1), CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

house property, the assessee is allowed deduction under section 24 of the Act on account of interest paid on the borrowed funds utilized for acquiring the immovable property. Similarly, when the income is to be computed under the head "Profits and gains from business or profession", the deduction account of interest on borrowed fund is provided under section

M/S ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT,CORPORATE CIRCLE, CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

house property, the assessee is allowed deduction under section 24 of the Act on account of interest paid on the borrowed funds utilized for acquiring the immovable property. Similarly, when the income is to be computed under the head "Profits and gains from business or profession", the deduction account of interest on borrowed fund is provided under section

M/S. ABAN OFFSHORE LIMITED,CHENNAI vs. DCITCORPORATE CIRCLE1(1), CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

house property, the assessee is allowed deduction under section 24 of the Act on account of interest paid on the borrowed funds utilized for acquiring the immovable property. Similarly, when the income is to be computed under the head "Profits and gains from business or profession", the deduction account of interest on borrowed fund is provided under section

ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1140/Chny/2025 Assessment Years: 2016-17 Asirvad Micro Finance Limited, Assistant Commissioner Of No.9, 9Th Floor, Club House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [Pan: Aagca5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr.P.R.Prasanna Varma, Fca & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 25.09.2025 घोषणा की तारीख /Date Of Pronouncement : 05.12.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [PAN: AAGCA5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee by : Mr.P.R.Prasanna Varma, FCA & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue by : Mr.Bipin C.N, CIT सुनवाई की तारीख/Date of Hearing : 25.09.2025 घोषणा की तारीख /Date of Pronouncement : 05.12.2025 आदेश

SUNITHA,COIMBATORE vs. PCIT -1, COIM,BATORE

In the result, appeal filed by the assessee is allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita No.2013/Chny/2024 (िनधा"रणवष" / Assessment Year: 2018-2019) Sunitha, Vs. The Principal Commissioner Of No.30, Sivaji Colony, Income Tax -1, Thadagam Road, Coimbatore Edayarpalayam, Coimbatore 641 025. [Pan: Bhqps 4789G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri N.V. Balaji, Advocate ""यथ" क" ओर से /Respondent By : Shri R. Clement Ramesh Kumar, Irs, Cit. सुनवाई क" तार"ख/Date Of Hearing : 26.11.2024 घोषणा क" तार"ख /Date Of Pronouncement : 10.12.2024 आदेश / O R D E R Per Manu Kumar Giri ()

house property being residential accommodation the tenant had not deducted TDS on rent paid by them. If any communication had bought to my notice earlier i would have taken necessary steps to submit at that relevant point of time. 2. Non-disclosure of loan given in the Income Tax Return (ITR) In ITR-3 of AY 2018-19 the disclosure

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT NON CORP CIRCLE 8(1), , CHENNAI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 609/Chny/2024 िनधा"रणवष" / Assessment Year: 2016-17 Deputy Commissioner Of Income M/S. Hyundai Motor India V. Tax, Limited, Non Corporate Circle – 8(1), Plot No. H-1, Sipcot Chennai – 600 034. Industrial Park, Irungatukottai, Sriperumbudurtaluk, Kancheepuram District, Tamil Nadu – 602 117. [Pan: Aaach-2364-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S.P. Chidambaram, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nanda Kumar, Cit सुनवाई क" तार"ख/Date Of Hearing : 06.06.2024 घोषणा क" तार"ख/Date Of Pronouncement : 21.08.2024 आदेश /O R D E R

transfer price adjustments as suggested by the TPO at Rs.237,51,90,000/-. The Assessing Officer had also proposed certain corporate tax adjustments including disallowances u/s.14A, r.w.r 8D of IT Rules, 1962, disallowance of subsidy received towards capital expenditure, disallowance of focus marketing scheme expenses, disallowance of additional depreciation claimed on fixed assets for regional offices and disallowance of bonus

SANJAY CHAWLA,SALEM vs. THE ACIT, CENTRAL CIRLCE, SALEM

In the result, appeals filed by both assessees in ITA Nos

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha.G, Hon’Bleआयकर अपील सं./Ita Nos.392 & 393/Chny/2021 &

price in respect of other sites for which the Revenue unfortunately or incidentally could not lay hands on the ITA Nos.392 & 393/Chny/2021 ITA Nos.374 & 375/Chny/2022 ITA Nos.394-396/Chny/2021 ITA Nos.371-373/Chny/2022 :: 11 :: original agreements. It is necessary to observe that taxpayers who organize their affairs in such a manner as to suppress their sale proceeds would not be expected to keep

SANJAY CHAWLA,SALEM vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE, SALEM., SALEM

In the result, appeals filed by both assessees in ITA Nos

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha.G, Hon’Bleआयकर अपील सं./Ita Nos.392 & 393/Chny/2021 &

price in respect of other sites for which the Revenue unfortunately or incidentally could not lay hands on the ITA Nos.392 & 393/Chny/2021 ITA Nos.374 & 375/Chny/2022 ITA Nos.394-396/Chny/2021 ITA Nos.371-373/Chny/2022 :: 11 :: original agreements. It is necessary to observe that taxpayers who organize their affairs in such a manner as to suppress their sale proceeds would not be expected to keep