ACIT, CHENNAI vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Accordingly, the assessee’s appeals in ITA Nos. 1881, 1882, and 1883/Chny/2025 for A.Ys. 2016-17, 2019-20, and 2022-23 are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 िनधा;रण वष; /Assessment Years: 2016-17, 2019-20 & 2022-23

prices are highly volatile. Timely lifting, transportation, storage, and export were critical, as delays could result in substantial demurrage and dead freight costs. Since transport operators lacked adequate incentive to ensure timely delivery, the assessee assumed responsibility for resolving logistical impediments through direct intervention involving facilitation payments at various stages. 11. Similar challenges were faced in the sourcing and supply

INTEGRATED SERVICE POINT LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(4), CHENNAI

Accordingly, the assessee's appeals in ITA Nos.1881, 1882,\nand 1883/Chny/2025 for A.Ys.2016-17, 2019-20, and 2022-23 are\nallowed

prices are highly volatile. Timely\nlifting, transportation, storage, and export were critical, as delays could\nresult in substantial demurrage and dead freight costs. Since transport\noperators lacked adequate incentive to ensure timely delivery, the\nassessee assumed responsibility for resolving logistical impediments\nthrough direct intervention involving facilitation payments at various\nstages.\n11. Similar challenges were faced in the sourcing and supply

ACIT, NUNGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Accordingly, the assessee's appeals in ITA Nos.1881, 1882,\nand 1883/Chny/2025 for A.Ys.2016-17, 2019-20, and 2022-23 are\nallowed

prices are highly volatile. Timely\nlifting, transportation, storage, and export were critical, as delays could\nresult in substantial demurrage and dead freight costs. Since transport\noperators lacked adequate incentive to ensure timely delivery, the\nassessee assumed responsibility for resolving logistical impediments\nthrough direct intervention involving facilitation payments at various\nstages.\n11. Similar challenges were faced in the sourcing and supply

ACIT, NUNAGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

prices are highly volatile. Timely\nlifting, transportation, storage, and export were critical, as delays could\nresult in substantial demurrage and dead freight costs. Since transport\noperators lacked adequate incentive to ensure timely delivery, the\nassessee assumed responsibility for resolving logistical impediments\nthrough direct intervention involving facilitation payments at various\nstages.\n11. Similar challenges were faced in the sourcing and supply

INTEGRATED SERVICE POINT LTD.,CHENNAI vs. ACIT, CC-2(4), CHENNAI

Accordingly, the assessee's appeals in ITA Nos.1881, 1882,\nand 1883/Chny/2025 for A.Ys.2016-17, 2019-20, and 2022-23 are\nallowed

prices are highly volatile. Timely\nlifting, transportation, storage, and export were critical, as delays could\nresult in substantial demurrage and dead freight costs. Since transport\noperators lacked adequate incentive to ensure timely delivery, the\nassessee assumed responsibility for resolving logistical impediments\nthrough direct intervention involving facilitation payments at various\nstages.\n11. Similar challenges were faced in the sourcing and supply

DCIT, CHENNAI vs. JAGATHRAKSHAKAN SRINISHA, CHENNAI

In the result, the appeals filed by the Revenue in I

transferred to the Jewellers for purchase. There are\nno receipts available for the said cash purchases and no submission as to from which\nJeweller such huge amount of Jewellery has been purchased. In the absence of the\nabove documents evidencing purchase of jewellery, it is evident that the cash withdrawals\nhave been used for some other purpose

DCIT, CHENNAI vs. JAGATHRAKSHAKAN SRINISHA, CHENNAI

In the result, the appeals filed by the Revenue in I

transferred to the Jewellers for purchase. There are\nno receipts available for the said cash purchases and no submission as to from which\nJeweller such huge amount of Jewellery has been purchased. In the absence of the\nabove documents evidencing purchase of jewellery, it is evident that the cash withdrawals\nhave been used for some other purpose

DCIT, CHENNAI vs. JAGATHRAKSKAN SRINISHA, CHENNAI

transferred to the Jewellers for purchase. There are\nno receipts available for the said cash purchases and no submission as to from which\nJeweller such huge amount of Jewellery has been purchased. In the absence of the\nabove documents evidencing purchase of jewellery, it is evident that the cash withdrawals\nhave been used for some other purpose

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

69C of the Act. On the\nissue of suppressed sales, the Ld. CIT(A) directed that the same be added\nto the reported turnover of the assessee and that the profits of 2.21% be\ncomputed on such increased turnover. The Ld. CIT(A) accordingly partly\nallowed the appeals of the assessee for all the AYs before us. Aggrieved

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Accordingly, having regard to our above findings, all the appeals of\nthe assessee and Revenue stands dismissed

69C of the Act. On the\nissue of suppressed sales, the Ld. CIT(A) directed that the same be added\nto the reported turnover of the assessee and that the profits of 2.21% be\ncomputed on such increased turnover. The Ld. CIT(A) accordingly partly\nallowed the appeals of the assessee for all the AYs before us. Aggrieved

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4) , CHENNAI

In the result, the appeal for the A

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

69C of the Income-tax Act, 1961, when for the purposes of assessment order u/s. 158BC of the Income-tax Act, the income which is disclosed in the income-tax returns has only to be considered as per the provisions of section 158BB(1) of the Act ?" Chapter XIV-B of the Act essentially proceeds on the basis that where

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4), CHENNAI

In the result, the appeal for the A

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

69C of the Income-tax Act, 1961, when for the purposes of assessment order u/s. 158BC of the Income-tax Act, the income which is disclosed in the income-tax returns has only to be considered as per the provisions of section 158BB(1) of the Act ?" Chapter XIV-B of the Act essentially proceeds on the basis that where

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SRI RAMA JEWELLERY MART, TRICHY

Appeal stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.3334/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) Dcit Sri Rama Jewellery Mart बनाम/ Vs. Central Circle-2, # 170, Big Bazar Trichy. Trichy-620 008. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabfs-0686-B (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" की ओर से/ Appellant By : Ms. Guathami Manivasagam (Jcit) - Ld. Sr. Dr " थ" की ओर से/Respondent By : Shri N. Arjun Raj & Shri S. Girish Kumar (Advocates) - Ld. Ars सुनवाई की तारीख/Date Of Hearing : 08-05-2025 घोषणा की तारीख /Date Of Pronouncement : 27.06.2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2020-21 Arises Out Of An Order Passed By Ld. Commissioner Of Income Tax (Appeals), Chennai-19 [Cit(A)] On 29-10-2024 In The Matter Of An Assessment Framed By Ld. Ao U/S 143(3) On 29-09-2022. The Grounds Of Appeal Read As Under: - 1. The Order Of The Learned Commissioner Of Income Tax (Appeals) Is Erroneous On Facts Of The Case & In Law. 2 The Ld. Cit (A) Erred In Deleting The Addition Of Rs.51,80,002/- Made Towards Unexplained Money U/S.69A & In Accepting That The Assessee Was Able To Demonstrate The Availability Of Cash, Including Cash Sales That Were Properly Recorded In The Books Of Accounts & Submitted Relevant Supporting Documents, Including The Cash Book, Which Reflected The Cash Balance Of Rs.51,80,002/-Without Appreciating The Fact That The Cash

transfer of cash from branch office to head office and the discrepancy was stated to be resolved. The Ld. AO doubted the same on the ground that the transactions were shown to have taken place one month before the date of survey and the necessity for keeping such huge cash was not explained with any cogent reasons. The assessee stated

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

69C of the Act. On the issue of suppressed sales, th issue of suppressed sales, the Ld. CIT(A) directed that the same be added e Ld. CIT(A) directed that the same be added to the reported turnover of the assessee and that the profits of 2.21% be to the reported turnover of the assessee and that the profits

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

69C of the Act. On the issue of suppressed sales, th issue of suppressed sales, the Ld. CIT(A) directed that the same be added e Ld. CIT(A) directed that the same be added to the reported turnover of the assessee and that the profits of 2.21% be to the reported turnover of the assessee and that the profits

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

69C of the Act. On the issue of suppressed sales, th issue of suppressed sales, the Ld. CIT(A) directed that the same be added e Ld. CIT(A) directed that the same be added to the reported turnover of the assessee and that the profits of 2.21% be to the reported turnover of the assessee and that the profits

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

69C of the Act. On the issue of suppressed sales, th issue of suppressed sales, the Ld. CIT(A) directed that the same be added e Ld. CIT(A) directed that the same be added to the reported turnover of the assessee and that the profits of 2.21% be to the reported turnover of the assessee and that the profits

M/S. LALITHA JEWELLERY MART LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

69C of the Act. The assessee is noted to have furn The assessee is noted to have furnished their response vide letter ished their response vide letter 8.4 dated 02-02-2023. The assessee had first explained that, the purported 2023. The assessee had first explained that, the purported 2023. The assessee had first explained that, the purported data which

M/S. LALITHA JEWELLERY MART LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

69C of the Act. The assessee is noted to have furn The assessee is noted to have furnished their response vide letter ished their response vide letter 8.4 dated 02-02-2023. The assessee had first explained that, the purported 2023. The assessee had first explained that, the purported 2023. The assessee had first explained that, the purported data which