DEPUTY COMMISSIONER OF INCOME TAX, TIRUNELVELI vs. M/S.LOYAL TEXTILE MILLS LIMITED, KOVILPATTI

In the result, both appeals filed by the Revenue are dismissed

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकर अपील सं./Ita No.192/Chny/2025, A.Y.: 2017-18 आयकर अपील सं./Ita No.193/Chny/2025, A.Y.: 2018-19 V. Deputy Commissioner Of Income M/S.Loyal Textile Mills Tax, Limited, Circle-1, New No.21, Old No.4, Tirunelveli. Mill Street, Kovilpatti, Tamil Nadu-628 501. [Pan: Aaacl2632C] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : अपीलार्थी की ओर से/ Appellant By Mr.Bhupendran, Advocate. : प्रत्यर्थी की ओर से /Respondent By Mr.Krishna Murthy At, Jcit सुनवाईकीतारीख/Date Of Hearing : 22.10.2025 घोषणाकीतारीख /Date Of Pronouncement : 30.10.2025

transfer pricing adjustment in respect of captive power valuation for the purpose of deduction u/s 80IA. Page 2 of 6 ITA Nos.192 & 193 /Chny/2025 (AY-2017-18 & 2018-19) M/s.Loyal Textile Mills Limited. b. The deletion of disallowance u/s 40(a)(ia) on commission paid to non-resident agents. The ld. Departmental Representative (DR) reiterated the grounds taken

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, TIRUNELVELI, TIRUNELVELI vs. M/S.LOYAL TEXTILE MILLS LIMITED, KOVILPATTI

In the result, both appeals filed by the Revenue are dismissed

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकर अपील सं./Ita No.192/Chny/2025, A.Y.: 2017-18 आयकर अपील सं./Ita No.193/Chny/2025, A.Y.: 2018-19 V. Deputy Commissioner Of Income M/S.Loyal Textile Mills Tax, Limited, Circle-1, New No.21, Old No.4, Tirunelveli. Mill Street, Kovilpatti, Tamil Nadu-628 501. [Pan: Aaacl2632C] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : अपीलार्थी की ओर से/ Appellant By Mr.Bhupendran, Advocate. : प्रत्यर्थी की ओर से /Respondent By Mr.Krishna Murthy At, Jcit सुनवाईकीतारीख/Date Of Hearing : 22.10.2025 घोषणाकीतारीख /Date Of Pronouncement : 30.10.2025

transfer pricing adjustment in respect of captive power valuation for the purpose of deduction u/s 80IA. Page 2 of 6 ITA Nos.192 & 193 /Chny/2025 (AY-2017-18 & 2018-19) M/s.Loyal Textile Mills Limited. b. The deletion of disallowance u/s 40(a)(ia) on commission paid to non-resident agents. The ld. Departmental Representative (DR) reiterated the grounds taken

T.L.SRITHARAN,CHENNAI vs. ACIT NON CORPORATE CIRCLE-14, CHENNAI

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 1596/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 T.L. Sritharan, The Assistant Commissioner Of New No. 13, (Old No. 1), V. Income Tax, Swaminathan Street, Non-Corporate Circle -14, West Mambalam, Chennai – 600 034. Chennai – 600 033. [Pan: Aepps-6766-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. R. Vijayaraghavan, Advocate & Shri. Saroj Kumar Parida, Advocate ""यथ" क" ओर से/Respondent By : Shri. Ar.V. Sreenivasan, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 22.12.2022 घोषणा क" तारीख/Date Of Pronouncement : 04.01.2023 आदेश /O R D E R

5,51,000/- and directed the difference between the above two of Rs. 4,60,000/- as the profit earned in the said transaction. The Hon’ble Supreme Court did not compare the market price of the shares of the first company with that of the market price of the shares of the second company. What it compared

THE RAMCO CEMENTS LIMITED,CHENNAI vs. DCIT, MADURAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

253 (SC), though the said decision has been specifically held to be inapplicable to the West Bengal IPA subsidy by the Calcutta High Court in Rasoi Ltd. (2011) 335 ITR 438, cited supra. 3. The learned CIT(A) committed factual errors in failing to note that the West Bengal Govt. abolished all sales tax related incentives with effect from

DCIT, MADURAI vs. THE RAMCO CEMENTS LIMITED, RAJAPALAYAM

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

253 (SC), though the said decision has been specifically held to be inapplicable to the West Bengal IPA subsidy by the Calcutta High Court in Rasoi Ltd. (2011) 335 ITR 438, cited supra. 3. The learned CIT(A) committed factual errors in failing to note that the West Bengal Govt. abolished all sales tax related incentives with effect from

DCIT, MADURAI vs. THE RAMCO CEMENTS LTD., RAJAPALAYAM

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

253 (SC), though the said decision has been specifically held to be inapplicable to the West Bengal IPA subsidy by the Calcutta High Court in Rasoi Ltd. (2011) 335 ITR 438, cited supra. 3. The learned CIT(A) committed factual errors in failing to note that the West Bengal Govt. abolished all sales tax related incentives with effect from

THE RAMCO CEMENTS LTD. ,RAJAPALAYAM vs. ACIT CORPORATE CIRCLE 2 , MADURAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

253 (SC), though the said decision has been specifically held to be inapplicable to the West Bengal IPA subsidy by the Calcutta High Court in Rasoi Ltd. (2011) 335 ITR 438, cited supra. 3. The learned CIT(A) committed factual errors in failing to note that the West Bengal Govt. abolished all sales tax related incentives with effect from

ACIT CORPORATE CIRCLE 2, MADURAI vs. THE RAMCO CEMENTS LIMITED, CHENNAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

253 (SC), though the said decision has been specifically held to be inapplicable to the West Bengal IPA subsidy by the Calcutta High Court in Rasoi Ltd. (2011) 335 ITR 438, cited supra. 3. The learned CIT(A) committed factual errors in failing to note that the West Bengal Govt. abolished all sales tax related incentives with effect from

THE RAMCO CEMENTS LIMITED,CHENNAI vs. DCIT, MADURAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

253 (SC), though the said decision has been specifically held to be inapplicable to the West Bengal IPA subsidy by the Calcutta High Court in Rasoi Ltd. (2011) 335 ITR 438, cited supra. 3. The learned CIT(A) committed factual errors in failing to note that the West Bengal Govt. abolished all sales tax related incentives with effect from

THE INDIA CEMENTS LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 2(1) CHENNAI, CHENNAI

253) held that purpose or object of subsidy was\nrelevant to decide the character of the incentive not the mechanism of\npayment and observed that, “If the object of the subsidy scheme was to\nITA No.2174/Chny/2024 (AY 2017-18)\nM/s. The India Cements Ltd.\n:: 15 ::\nenable the assessee to run the business more profitably then the receipt

KELLER (M) SDN BHD,CHENNAI vs. DCIT INTL TAX 1(2), CHENNAI, CHENNAI

In the result, the appeal of the assessee stands allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.1319/Chny/2023 (िनधा"रणवष" / Assessment Year: 2018-2019) Vs. The Deputy Commissioner Of Keller (M) Sdn Bhd, Income Tax, 7Th Floor, Centennial Square, International Taxation 1(2) No.6A, Dr. Ambedkar Road, Chennai. Kodambakkam, Chennai 600 024. [Pan: Aagck 8014M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. Ashik Shah, C.A. ""यथ" क" ओर से /Respondent By : Shri. Nilay Baran Som, Irs, Cit.

253 Keller India, in response to the notice under section 133(6) dated March 10, 2023 9.1. Notice under section 133(6) dated March 10, 2023, issued on 258 Keller Ground Engineering India Private Limited ("Keller India") 9.2. Extract of the ledger of the Appellant maintained by Keller 260 India in its books

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI vs. SHRI. MOOLCHAND KIRAN KUMAR JAIN, CHENNAI

In the result, both the appeals of the revenue are dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner Of Shri. Moolchandkiran Kumar Income Tax, V. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [Pan:Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ"क"ओरसे/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तारीख/Date Of Hearing : 13.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.07.2024 आदेश /O R D E R Per S. R. Raghunatha, Am: These Appeals Are Preferred By The Revenue Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-18, (Hereinafter In Short "The Ld.Cit(A)”), Chennai, Dated 15.11.2022 Against The Assessment Order U/S.153A/143(3) Of The Income Tax Act, 1961 (Hereinafter In Short "The Act”) For :-2-: Ita. Nos: 5 & 6/Chny/2024

253,639,801 Sl.No Investment (FY 2020-21) AY 2021-22 Amount in Rs. 1 Max Life Insurance 1,400,000 2 SBI Life Insurance 11,090,963 3 Star Union 24,66,304 4 Shares Division 3,240,699 5 Global Capital 1,239,727 6 Magnum Trust 6,000,000 7 Raj TV 556,148,491 8 Shares

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(4), CHENNAI vs. SHRI. MOOLCHAND KIRAN KUMAR JAIN, CHENNAI

In the result, both the appeals of the revenue are dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner Of Shri. Moolchandkiran Kumar Income Tax, V. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [Pan:Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ"क"ओरसे/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तारीख/Date Of Hearing : 13.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.07.2024 आदेश /O R D E R Per S. R. Raghunatha, Am: These Appeals Are Preferred By The Revenue Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-18, (Hereinafter In Short "The Ld.Cit(A)”), Chennai, Dated 15.11.2022 Against The Assessment Order U/S.153A/143(3) Of The Income Tax Act, 1961 (Hereinafter In Short "The Act”) For :-2-: Ita. Nos: 5 & 6/Chny/2024

253,639,801 Sl.No Investment (FY 2020-21) AY 2021-22 Amount in Rs. 1 Max Life Insurance 1,400,000 2 SBI Life Insurance 11,090,963 3 Star Union 24,66,304 4 Shares Division 3,240,699 5 Global Capital 1,239,727 6 Magnum Trust 6,000,000 7 Raj TV 556,148,491 8 Shares

M/S. GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1,, TIRUPPUR

In the result, the appeal filed by the assessee is allowed

253.\n8. Shri Ganesh, learned senior counsel appearing on behalf of the\nassessee submitted that the benefits were conferred on the assessee under\nthe 1980 and 1987 Schemes, namely, additional price by reason of\nenhancement of free sale sugar quota, which resulted in the benefit of\nadditional price, which price had to be utilized only for repayment of loans\ntaken

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

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

price whichever is lower, which is different from valuation of securities for the purpose of books which is as per RBI guidelines. Since, the issue is covered by the decision of Hon’ble High Court of Madras in appellant’s own case, we are of the considered view that, the Assessing Officer is erred in making additions towards disallowance

M/S. CITY UNION BANK,,KUMBAKONAM vs. DCIT, CIRCLE - 2 (1),, TRICHY

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

price whichever is lower, which is different from valuation of securities for the purpose of books which is as per RBI guidelines. Since, the issue is covered by the decision of Hon’ble High Court of Madras in appellant’s own case, we are of the considered view that, the Assessing Officer is erred in making additions towards disallowance

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

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

price whichever is lower, which is different from valuation of securities for the purpose of books which is as per RBI guidelines. Since, the issue is covered by the decision of Hon’ble High Court of Madras in appellant’s own case, we are of the considered view that, the Assessing Officer is erred in making additions towards disallowance

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

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

price whichever is lower, which is different from valuation of securities for the purpose of books which is as per RBI guidelines. Since, the issue is covered by the decision of Hon’ble High Court of Madras in appellant’s own case, we are of the considered view that, the Assessing Officer is erred in making additions towards disallowance

DCIT CIRCLE-2(1), TRICHY vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

price whichever is lower, which is different from valuation of securities for the purpose of books which is as per RBI guidelines. Since, the issue is covered by the decision of Hon’ble High Court of Madras in appellant’s own case, we are of the considered view that, the Assessing Officer is erred in making additions towards disallowance