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

ACIT, CHENNAI vs. UPDATER SERVICES LIMITED, CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

transfer of shares from one person to other below FMV, shall not apply to a buyback transaction (wherein a Company purchases its own shares). :-12-: ITA Nos.:1339, 1616/Chny/2025 & C.O.No.66/Chny/2025 o Relying on the rulings in the case of Vora Financial Services (P.) Ltd (Supra) and venture Lighting India Ltd (Supra), deleted the addition made under Section 56(2

M/S. UPDATER SERVICES LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(3), CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

transfer of shares from one person to other below FMV, shall not apply to a buyback transaction (wherein a Company purchases its own shares). :-12-: ITA Nos.:1339, 1616/Chny/2025 & C.O.No.66/Chny/2025 o Relying on the rulings in the case of Vora Financial Services (P.) Ltd (Supra) and venture Lighting India Ltd (Supra), deleted the addition made under Section 56(2

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. SHRIPROP PROPERTIES PRIVATE LIMITED, BANGALORE

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

56(2)(x), the consideration in our view is the actual cost paid by the buyer towards acquisition of the property and there is no provision under said section for any adjustment towards stamp duty and registration charges born by the seller instead of the buyer. Accordingly, we see no infirmity in the decision of the CIT(A) in directing

SPL SHELTERS PVT. LTD.,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

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

56(2)(x), the consideration in our view is the actual cost paid by the buyer towards acquisition of the property and there is no provision under said section for any adjustment towards stamp duty and registration charges born by the seller instead of the buyer. Accordingly, we see no infirmity in the decision of the CIT(A) in directing

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. SPL SHELTERS PRIVATE LIMITED, CHENNAI

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

56(2)(x), the consideration in our view is the actual cost paid by the buyer towards acquisition of the property and there is no provision under said section for any adjustment towards stamp duty and registration charges born by the seller instead of the buyer. Accordingly, we see no infirmity in the decision of the CIT(A) in directing

SHRIPROP PROPERTIES PVT. LTD.,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

Accordingly.\n15. In result, appeal of both the assessees in ITA No. 1172 & 1173/Chny/2025\nare allowed and the appeal of the revenue in ITA No

56(2)(x), the consideration in our view is the\nactual cost paid by the buyer towards acquisition of the property and there is no\nprovision under said section for any adjustment towards stamp duty and registration\ncharges born by the seller instead of the buyer. Accordingly, we see no infirmity in\nthe decision of the CIT(A) in directing

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 :

price ought to have been Rs.56.36/share. The Ld.AO consequently made an addition of Rs.42,29,48,758/- invoking provisions of section 56(2)(viib) r.w. Rule 11UA. Aggrieved by the order, the assessee preferred appeal before the Ld.CIT(A) who confirmed the findings of the Ld.AO. The assessee is assailing the impugned order of Ld.CIT(A) dated

RENAULT INDIA PRIVATE LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, appeal of the assessee is partly allowed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No. 1078/Mds/2017 "नधा"रण वष" /Assessment Year : 2012-2013. M/S. Renault India Private Vs. The Deputy Commissioner Of Limited, Income Tax, No.37 & 38, Asv Ramana Corporate Circle 5(1) Towers, Chennai. 4Th Floor, Venkatnarayana Road, T.N Agar, Chennai 600 017. [Pan Aadcr 2042M ] (अपीलाथ"/Appellant) (""यथ"/Respondent)

56,11,939 TNMM Renault SAS Sale of trial cars 71,93,334 Renault SAS Purchase of sample 15,96,100 miniature car models Renault Nissan Reimbursement of salaries 3,46,14,038 CUP Global Management and wages paid Renault SAS Reimbursement of F1 race 68,83,300 CUP related cost received Renault BV Interest paid

PALANIAPPAN LAKSHUMANAN CHETTIAR,,METTUPALAYAM vs. ACIT, NCC - 8 (1),, CHENNAI

In the result, the appeal filed by assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा(रण वष( /Assessment Year: 2016-17 V. Shri Palaniappan Lakshumanan The Asst. Commissioner Of Chettiar, Income Tax, 3/181, Gangai Amman Koil Street, Non-Corporate Circle-8(1), Mettupalayam-600 077. Chennai-600 034. [Pan: Adnpc 4871 F] (अपीलाथ+/Appellant) (,-यथ+/Respondent) : Mr.M.Narayanan, Retd. Acit अपीलाथ+ क. ओर से/ Appellant By : Ms.R.Anitha, Jcit ,-यथ+ क. ओर से /Respondent By : 13.11.2019 सुनवाई क. तार"ख/Date Of Hearing : 10.02.2020 घोषणा क. तार"ख /Date Of Pronouncement आदेश / O R D E R Per Ramit Kochar:

transfer shall, for the purposes of section 48, be deemed to be the full value of the consideration. This amendment will take effect from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-2020 and subsequent years.” “Clause 21 of the Bill seeks to amend section 56 of the Income-tax Act relating to income

ACIT, CIRCLE-1, , TIRUPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING (P) LTD., TIRUPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

X vide notification dated 31.03.2015 after wide public consultations. He argued that in order avoid future litigation and controversy in this matter, the definition of income under sub-section (24) of section 2 of the Act has been amended so as to provide that the income shall include assistance in the form of a subsidy or grant or cash incentive

DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-1, TIRUPPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING P LTD, TIRUPPUR,TAMILNADU

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

X vide notification dated 31.03.2015 after wide public consultations. He argued that in order avoid future litigation and controversy in this matter, the definition of income under sub-section (24) of section 2 of the Act has been amended so as to provide that the income shall include assistance in the form of a subsidy or grant or cash incentive

GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1, TIRUPPUR, TIRUPPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

X vide notification dated 31.03.2015 after wide public consultations. He argued that in order avoid future litigation and controversy in this matter, the definition of income under sub-section (24) of section 2 of the Act has been amended so as to provide that the income shall include assistance in the form of a subsidy or grant or cash incentive

T vs. MOTOR COMPANY LTD.,CHENNAIVS.ACIT, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita No.672/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 M/S.Tvs Motor Co. Ltd., V. The Acit, No.29, Haddows Road, Corporate Circle – 3(1), Chennai-600 006. Chennai. [Pan: Aaacs 7032 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

2) of 92C and determined as Rs. 9,72,301 and Rs. 78,70,058 towards reimbursement of excess AMP and mark 9,72,301 and Rs. 78,70,058 towards reimbursement of excess AMP and mark 9,72,301 and Rs. 78,70,058 towards reimbursement of excess AMP and mark up on Excess AMP. Hence an adjustment

AADARSH SURANA, CHENNAI,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI

In the result, the appeal of the assessee is allowed

56(2)(x) of the Act. 72. Both the lower authorities have recorded adverse findings with respect to the valuation report relied upon by the assessee for determining the consideration in connection with the succession of the business. It has been observed by them that there were several inconsistencies and infirmities in the valuation report, and that the valuation

DCIT, CHENNAI vs. HYUNDAI MOTORS INDIA LTD., KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

x INR INR 1493,12,19,897= 62,20,34,587. This means that the increase in Brand value of HMIL which needs to be compensated for is determined to be INR 62,20,34,587 14. When the Assessing Officer proposed an ALP adjustment of Rs 62,20,34,857, in the above background, assessee raised a grievance before

DCIT, CHENNAI vs. HYUNDAI MOTOR INDIA LIMITED, KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

x INR INR 1493,12,19,897= 62,20,34,587. This means that the increase in Brand value of HMIL which needs to be compensated for is determined to be INR 62,20,34,587 14. When the Assessing Officer proposed an ALP adjustment of Rs 62,20,34,857, in the above background, assessee raised a grievance before

DCIT, CHENNAI vs. HYUNDAI MOTOR INDIA LTD., KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

x INR INR 1493,12,19,897= 62,20,34,587. This means that the increase in Brand value of HMIL which needs to be compensated for is determined to be INR 62,20,34,587 14. When the Assessing Officer proposed an ALP adjustment of Rs 62,20,34,857, in the above background, assessee raised a grievance before

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

x INR INR 1493,12,19,897= 62,20,34,587. This means that the increase in Brand value of HMIL which needs to be compensated for is determined to be INR 62,20,34,587 14. When the Assessing Officer proposed an ALP adjustment of Rs 62,20,34,857, in the above background, assessee raised a grievance before