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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI vs. AATHMIKA HOLDINGS PVT LTD, CHENNAI

In the result, the appeal of the Revenue stand dismissed and the

Bench: Shri Aby T. Varkey & Shri Jagadish

viib) r.w Rule 11UA(2), which gives more than one option regarding the method of valuation, however for the purposes of Section 56(2)(x), the only method which has to be applied and followed by the assessee as well as the Revenue is only the FMV methodology based on the asset approach as set out in Rule 11UA

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)

price / share premium for the shares allotted to Mrs.Sasikala Raghupathy over and above the face value of shares which works out to Rs.23,31,68,600/- (i.e., 23,086 * 10,100). Accordingly the Ld.AO invoking the provisions of Section 56(2)(viib) of the Act, added the amount of Rs.23,31,68,600/- to the income of the assessee

KARADI PATH EDUCATION COMPANY PRIVATE LIMITED,CHENNAI vs. COMMISSIONER, CHENNAI

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1848/Chny/2025 निर्धारण वर्ष / Assessment Year: 2018-19 Karadi Path Education Company Private Limited, 3A No.11, Dev Regency, I Main Road, Gandhi Nagar, Adyar, Chennai - 600 020. [Pan: Aaeck-2995-D] (अपीलार्थी/Appellant) Dcit, Vs. Corporate Circle -4(1), Chennai. (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By : Shri. Pradhan Priya Dass, C.A. (By Virtual) प्रत्यर्थी की ओर से/Respondent By : Ms. Gouthami Manivasagam, Jcit सुनवाई की तारीख/Date Of Hearing : 27.11.2025 घोषणा की तारीख/Date Of Pronouncement : 17.02.2026 आदेश /O R Der Per S. R. Raghunatha, Am: This Appeal By The Assessee Is Filed Against The Order Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, (In Short “Ld.Cit(A)”) For The Assessment Year 2018-19, Dated 29.04.2025 In Respect Of The Order Of The National E-Assessment Centre, Delhi (In Short 'Ao') Passed U/S.143(3) Of The Income Tax Act, 1961 ( In Short ‘The Act') Dated 28.04.2021. :-2-:

transfer of Shares by a Non Resident to a Resident. The debt was received on three occasions of Rs.35,00,000/- on 06.10.2017, Rs.40,00,000/- on 10.10.2017 and Rs.1,25,00,000/- 29.01.2018 without explicit option to convert or any predetermined formula for conversion. 7. Further, the Id.AR argued that the Section 56(2)(viib) of the Act, interalia

ADP INDIA PRIVATE LIMITED,CHENNAI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal in ITA No

Bench: Shri George George Kand Shri Jagadishआयकर अपीलसं/.Ita Nos.: 2670, 2671, 2672 & 2698/Chny/2024 िनधा"रण वष"/Assessment Years: 2016-17, 2017-18, 2018-19 & 2020-21 Adp India Private Limited, The Deputy Commissioner Of Thamarai Tech Park, 6Th Floor, Vs. Income Tax, Sp Plot No. 16 To 20 & 20A, Thiru Vi Ka Corporate Circle 1(1), Industrial Estate, Inner Ring Road, Chennai. Guindy Industrial Estate So, Guindy, Chennai 600 032. [Pan: Aadcm-5547-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sandeep Bagmar, Advocate ""यथ" क" ओर से/Respondent By : Shri V. Justin, Cit & Ms. R. Anita, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 08.05.2025 घोषणा क" तारीख/Date Of Pronouncement : 21.05.2025 आदेश/ O R D E R Per George George K: These Four Appeals Filed At The Instance Of The Assessee Are Directed Against Four Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (All Dated 21.08.2024) Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2016-17, 2017-18, 2018-19 & 2020-21. Ita Nos.2670 To 2672 & 2698/Chny/2024

price arrived at ₹.193/- for the transferee company (M/s. ADP India private Limited) and ₹.910/- for the transferor company (M/s. ADP Solutions Private Limited), thereby, the assessee arrived at a goodwill value of ₹.24,50,82,483/-. Accordingly, the Assessing Officer show-caused the assessee as to why the depreciation on goodwill should not be disallowed. The Assessing Officer, after

ADP INDIA PRIVATE LIMITED,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), CHENNAI

In the result, the appeal in ITA No

Bench: Shri George George Kand Shri Jagadishआयकर अपीलसं/.Ita Nos.: 2670, 2671, 2672 & 2698/Chny/2024 िनधा"रण वष"/Assessment Years: 2016-17, 2017-18, 2018-19 & 2020-21 Adp India Private Limited, The Deputy Commissioner Of Thamarai Tech Park, 6Th Floor, Vs. Income Tax, Sp Plot No. 16 To 20 & 20A, Thiru Vi Ka Corporate Circle 1(1), Industrial Estate, Inner Ring Road, Chennai. Guindy Industrial Estate So, Guindy, Chennai 600 032. [Pan: Aadcm-5547-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sandeep Bagmar, Advocate ""यथ" क" ओर से/Respondent By : Shri V. Justin, Cit & Ms. R. Anita, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 08.05.2025 घोषणा क" तारीख/Date Of Pronouncement : 21.05.2025 आदेश/ O R D E R Per George George K: These Four Appeals Filed At The Instance Of The Assessee Are Directed Against Four Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (All Dated 21.08.2024) Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2016-17, 2017-18, 2018-19 & 2020-21. Ita Nos.2670 To 2672 & 2698/Chny/2024

price arrived at ₹.193/- for the transferee company (M/s. ADP India private Limited) and ₹.910/- for the transferor company (M/s. ADP Solutions Private Limited), thereby, the assessee arrived at a goodwill value of ₹.24,50,82,483/-. Accordingly, the Assessing Officer show-caused the assessee as to why the depreciation on goodwill should not be disallowed. The Assessing Officer, after

DCIT CORPORATE CIRCLE 3(2), CHENNAI vs. VENTURE LIGHTING INDIA LIMITED, CHENNAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

transfer pricing are not applicable where the Indian entity is benefited with indirect profit, be it a present or future profit. The assessee company thus obtained an asset to sell such bought back shares to any other third party for book value which is invariable higher than the value for which it received the same. 8. On the other hand

ITO CORPORATE WARD 4(3), CHENNAI vs. KAINO INFRA DEVELOPMENT PRIVATE LTD., CHENNAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.No.1491/Chny/2019 ("नधा"रणवष" / Assessment Year: 2015-16) The Income Tax Officer, Vs M/S. Kaino Infra Development Corporate Ward-4(3) Pvt Ltd., Chennai-34. 37, Ttk Road, Alwarpet, Chennai-600 018. Pan: Aadcr 5655E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant By : Mr. Ar V Sreenivasan, Addl.Cit For Mr. V.Vikekananthan, Cit ""यथ"क"ओरसे/Respondent By : Mr. G.Seetharaman, C.A. & Mr.S.Sundararaman, C.A सुनवाईक"तार"ख/Date Of Hearing : 15.07.2022 घोषणाक"तार"ख /Date Of Pronouncement : 12.10.2022 आदेश / O R D E R Per G. Manjunatha, Am: This Appeal Filed By The Revenue Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-8, Chennai Dated 31.01.2019 & Pertains To Assessment Year 2015-16. 2. The Revenue Has Raised Following Grounds Of Appeal:- “1. The Order Of The Ld.Cit(A) Is Contrary To Law & Facts Of The Case. 2. The Ld.Cit(A) Erred In Allowing The Assessee'S Appeal By Stating That The Assessee Company Has Sufficiently & Reasonably Justified The Share Premium Received Of Rs.168.60 Crores For The Year.

transferred to Director’s 18 account. Therefore, the Assessing Officer opined that share premium collected by the assessee for allotment of equity shares is taxable u/s.56(2)(viib) of the Income Tax Act, 1961. 11. The assessee has issued shares at premium and such shares has been issued on the basis of valuation report as on the date of issue

S4 CARLISLE PUBLISHING SERVICE P LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 6(1), CHENNAI

Bench: Shri George Mathan & Shri S. Jayaraman

price of USD $3.5 million and in return to invest a sum of USD $ 2.5 million in the assessee company so as to hold 25% of the outstanding capital of the assessee company as on 31.03.2008.By this, the share capital and share premium has changed as under: No. of shares issued @ Rs. 10 is 5,77,194 totalling