SIVA INDUSTRIES AND HOLDINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

The appeal of the revenue stand partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

section 14A of the Act without appreciating that the scope of disallowance under the said provision is limited to expenditure incurred 'in relation to' income which does not form part of total income under the Act. 12. The Learned CIT(A) and Learned AO erred in law and on facts by relying upon Cheminvest Limited vs ITO (121ITD 318), though

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

The appeal of the revenue stand partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

section 14A of the Act without appreciating that the scope of disallowance under the said provision is limited to expenditure incurred 'in relation to' income which does not form part of total income under the Act. 12. The Learned CIT(A) and Learned AO erred in law and on facts by relying upon Cheminvest Limited vs ITO (121ITD 318), though

M/S. AMBATTUR DEVELOPERS PVT. LTD.,CHENNAI vs. ITO, CORPORATE WARD-1(1), CHENNAI

Bench: Shri Manu Kumar Giri & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 2601/Chny/2024 निर्धारण वर्ष / Assessment Year: 2015-16 M/S. Ambattur Developers Private Limited, (Amalgamated With Ambattur Hotels Private Limited) No. 86/E2, Industrial Estate, Ambattur, Chennai - 600 058. Tamil Nadu. [Pan: Aaeca-7490-D] (अपीलार्थी/Appellant) Income Tax Officer, Vs. Corporate Ward- 1(1), Chennai. (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By प्रत्यर्थी की ओर से/Respondent By : Shri. R. Vijayaraghavan, Advocate : Shri. Bipin, C.N., Cit सुनवाई की तारीख /Date Of Hearing घोषणा की तारीख/Date Of Pronouncement : 09.09.2025 : 11.11.2025 आदेश /Order Per S.R.Raghunatha, Am : This Appeal By The Assessee Is Filed Against The Order Of The Learned Commissioner Of Income Tax (Appeal), Nfac, Delhi, (In Short Ld.Cit(A)) For The Assessment Year 2015-16, Vide Order Dated 12.08.2024. 2. The Grounds Raised By The Assessee Are As Follows: :-2-:

price. 9. Applicability of section 56(2)(viib) At the outset, it is important to determine the applicability of Section 56(2)(viib) of the Act to the facts of the present case. The Ld.AR submitted that :-7-: ITA. No: 2601/Chny/2024 the purpose of introduction of this section will be determinative factor and submitted as under: 9.1 Purpose of Section

DCIT , CORPORATE CIRCLE - 1 (1), CHENNAI vs. M/S ASPIRE SYSTEMS INDIA PRIVATE LIMITED , CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

M/S ASPIRE SYSTEMS INDIA PRIVATE LIMITED ,CHENNAI vs. DCIT , CORPORATE RANGE - 1 (1), CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

DCIT , CORPORATE RANGE - 1 (1), CHENNAI vs. M/S ASPIRE SYSTEMS INDIA PRIVATE LIMITED , CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

DCIT , CORPORATE CIRCLE - 1 (1), CHENNAI vs. M/S ASPIRE SYSTEMS INDIA PRIVATE LIMITED , CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

DCIT , CORPORATE CIRCLE - 1 (1), CHENNAI vs. M/S ASPIRE SYSTEMS INDIA PRIVATE LIMITED , CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

JCIT(OSD),CORPORATE CIRCLE-1(10, CHENNAI vs. ASPIRE SYSTEMS INDIALTD., CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

M/S ASPIRE SYSTEMS INDIA PRIVATE LIMITED ,CHENNAI vs. DCIT , CORPORATE RANGE - 1 (1), CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1069, 1070 & 1071/Chny/2022, 159 & 315/Chny/2023 िनधा"रण वष" / Assessment Years: 2010-11, 2017-18, 2016-17, 2012-13 & 2013-14 Dcit/Jcit(Osd), M/S. Aspire Systems India Corporate Circle -1(1), V. Private Limited, Chennai – 600 034. Old No. 4, New No. 7, Ii Trust Link Road, Raja Annamalaipuram, Chennai – 600 028. [Pan: Aacca-4543-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 39 & 40/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14

197 r.w.s. 195(2) to determine the amount chargeable and upon such determination deduct tax on such sum so determined? 6. Whether the Ld. CIT(A) erred in ignoring the legal principle laid by Hon'ble Supreme Court in the case of Transmission Corporation of Andhra Pradesh Ltd vs CIT (1999) 239 ITR 587 (SC) (para 9 that

NETHERLANDS OPERATING COMPANY B.V.,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, INT. TAXATION 2(1), CHENNAI, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.1198/Chny/2023 िनधा"रणवष"/Assessment Year: 2010-11 V. Netherlands Operating Company B.V. The Acit, Rmz Millenia (Phase-1), International Taxation -2(1), Business Park, 4Th Floor, Campus 1C, Chennai. 11, Dr. M.G.R. Road, Kandanchavadi, Perungudi, Chennai-600 096. [Pan: Aabcl 0573 D] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Transfer Pricing, as contained in sections 92 and 92F of the Act that had come into force, with effect from assessment year 2002-03 onwards. 23. The Circular reinforces the position that it is sine qua non for the Assessing Officer to assume jurisdiction prior to taking any steps in the matter of assessment, including reference of the matter

M/S. SUPER AUTO FORGE PVT. LTD.,CHENNAI vs. ITO, CORPORATE WARD-3(1), CHENNAI

Appeal of the assessee is allowed

Bench: Shri George George K & Ms Padmavathy S, Am

197,25,31,440/- after making addition on account of education cess and on account of disallowance under section 14A. The PCIT noticed from the records that the assessee has debited a sum of Rs. 1,97,00,982/- on account M/s Super Auto Forge Pvt. Ltd. of CSR Expenditure and the same has been disallowed 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 :

197 CTR 73 holding that the intention of Rule-11 of the appellate tribunal rules is to do complete justice to the parties and that the said rules is enacted for the advance of cause of justice and therefore should be liberally construed. Upon consideration of the matter, we are of the view that the Page - 4 - of 16 additional

HYUNDAI TRANSYS INC,REPUBLIC OF KOREA vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI

Appeal of the assessee is allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.338/Chny/2024 (िनधा"रणवष" / Assessment Year: 2015-2016) Hyundai Transys Inc, Vs. The Deputy Commissioner Of 105, Sindang Income Tax, 1 Ro Seongyeon, International Tax, Myeon, Corporate Circle 1(1) Seosan, Ccn 356851 Chennai. Korea.

197 of the Act in relation to the guarantee fees received from the Indian Subsidiary and the same was produced before the Assessing Officer ('AO') during the course of reassessment proceedings. 2.4. Without prejudice to the above, the Ld. AO and DRP erred on facts and failed to appreciate that the guarantee fees received by Appellant arises only in Korea

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

197, held that interest on the Government Securities cannot be said to ITA Nos.1129-30/-1315-16/18 :- 5 -: be accrued till the due date. Accordingly directed the Assessing Officer to delete the addition. 8. Regarding addition on account of profit on sale of investments of "7,25,09,632/-. The addition was made on excess cost of securities over

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

197, held that interest on the Government Securities cannot be said to ITA Nos.1129-30/-1315-16/18 :- 5 -: be accrued till the due date. Accordingly directed the Assessing Officer to delete the addition. 8. Regarding addition on account of profit on sale of investments of "7,25,09,632/-. The addition was made on excess cost of securities over

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

197, held that interest on the Government Securities cannot be said to ITA Nos.1129-30/-1315-16/18 :- 5 -: be accrued till the due date. Accordingly directed the Assessing Officer to delete the addition. 8. Regarding addition on account of profit on sale of investments of "7,25,09,632/-. The addition was made on excess cost of securities over

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

197, held that interest on the Government Securities cannot be said to ITA Nos.1129-30/-1315-16/18 :- 5 -: be accrued till the due date. Accordingly directed the Assessing Officer to delete the addition. 8. Regarding addition on account of profit on sale of investments of "7,25,09,632/-. The addition was made on excess cost of securities over