SARAVANAN ARUMUGAM,CHENNAI vs. ITO, CHENNAI

6) and (7) of section 23A, sub-section (5) of section 24, section 34AA, section 35 and section 37 of the Wealth-tax Act, 1957 (27 of 1957), shall, with necessary modifications, apply in relation to such reference as they apply in relation to a reference made by the Assessing Officer under sub-section (1) of section 16A of that

SUBASH SUBRAMANIAN,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee stands dismissed

Bench: Shri Abraham P. George]

price mentioned by the assessee in the sale deed alone could be considered for working out capital gains. Per contra, ld. Departmental Representative strongly 10. supported the orders of the authorities below. :- 6 -: 11. I have considered the rival contentions and perused the orders of the authorities below. It is true that there was a pending litigation on the property

SUNDARAM FASTENERS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No. 688/Mds/2015 "नधा"रण वष" / Assessment Year : 2010-11 M/S Sundaram Fasteners Ltd., The Deputy Commissioner Of 98-A, 7Th Floor, V. Income Tax, Dr. Radhakrishnan Salai, Corporate Circle – 6(2), Mylapore, Chennai - 600 004. Chennai - 600 034. Pan : Aaacs 8779 D (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer pricing adjustment provided under the scheme of Income-tax Act is to prevent the assessee from eroding the tax base in one country and shifting the profit to other country. In the case before us, if the assessee has incurred any expenditure on the loan advanced to the Associate Enterprise in UK, then naturally the assessee is shifting

REGEN POWERTECH PRIVATE LMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the Assessee and Department are allowed for statistical purpose

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

Transfer Pricing study report issued by ERNST & YOUNG referred at page 18 to 60 of the paper book and also highlightened Audit report form no. 3CEB at page 70 of paper book were the international transactions with Associated Enterprise and method used being TNMM method disclosed alongwith comparative statements, on Royalty. The ld. TPO is of the opinion that assessee

DCIT, CHENNAI vs. REGEN POWERTECH (P) LTD., CHENNAI

In the result, the appeal of the Assessee and Department are allowed for statistical purpose

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

Transfer Pricing study report issued by ERNST & YOUNG referred at page 18 to 60 of the paper book and also highlightened Audit report form no. 3CEB at page 70 of paper book were the international transactions with Associated Enterprise and method used being TNMM method disclosed alongwith comparative statements, on Royalty. The ld. TPO is of the opinion that assessee

SHRIRAM TRANSPORT FINANCE CO. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, appeal of the assessee is partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

6 I.T.A. No.454/Mds/16 I.T.A. No.728/Mds/16 9. We have considered the rival submissions on either side and perused the relevant material available on record. As rightly submitted by the Ld. D.R., interest is charged under Section 234D of the Act on the excess amount refunded to the assessee while processing a return under Section 143(1) of the Act. Even though

DCIT, CHENNAI vs. SHRIRAM TRANSPORT FINANCE CO. LTD., CHENNAI

In the result, appeal of the assessee is partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

6 I.T.A. No.454/Mds/16 I.T.A. No.728/Mds/16 9. We have considered the rival submissions on either side and perused the relevant material available on record. As rightly submitted by the Ld. D.R., interest is charged under Section 234D of the Act on the excess amount refunded to the assessee while processing a return under Section 143(1) of the Act. Even though

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

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

16A issued for TDS, therefore provisions of section 40a(ia) of the Act are not applicable and deleted the addition. The Ld. CIT(A) discussed deduction u/s. 36(1)(viia) of the Act and on and relied on the assessee's own case for the assessment year 2013-14 in ITA No. 1485/2007 in remitting to the Assessing Officer

D.SHANTHA,VILLUPURAM vs. ITO, VILLUPURAM

In the result, the assessee’s appeal in ITA No

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

section 263 and after considering the submissions and objections of the assessee, passed on order u/s. 263 on 20.03.2013, directing the AO to re-do the assessment on the following three issues after affording reasonable opportunity to the assessee. Subsequently, the AO passed an order u/s. 143(3) r.w.s. 263 on 25.03.2012 determining the total income

D.SHANTHA,VILLUPURAM vs. ITO, VILLUPURAM

In the result, the assessee’s appeal in ITA No

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

section 263 and after considering the submissions and objections of the assessee, passed on order u/s. 263 on 20.03.2013, directing the AO to re-do the assessment on the following three issues after affording reasonable opportunity to the assessee. Subsequently, the AO passed an order u/s. 143(3) r.w.s. 263 on 25.03.2012 determining the total income

D.SHANTHA,VILLUPURAM vs. ITO, VILLUPURAM

In the result, the assessee’s appeal in ITA No

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

section 263 and after considering the submissions and objections of the assessee, passed on order u/s. 263 on 20.03.2013, directing the AO to re-do the assessment on the following three issues after affording reasonable opportunity to the assessee. Subsequently, the AO passed an order u/s. 143(3) r.w.s. 263 on 25.03.2012 determining the total income

DCIT, VILLUPURAM vs. D.SANTHA, KALLAKURICHI

In the result, the assessee’s appeal in ITA No

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

section 263 and after considering the submissions and objections of the assessee, passed on order u/s. 263 on 20.03.2013, directing the AO to re-do the assessment on the following three issues after affording reasonable opportunity to the assessee. Subsequently, the AO passed an order u/s. 143(3) r.w.s. 263 on 25.03.2012 determining the total income