ACIT, TRICHY vs. SHRI P.JANAKAR, DINDIGUL

Bench: Shri Chandra Poojari & Shri V. Durga Rao

transferred from purchase account. No books of accounts were produced for the general account i.e., transactions other than PR & Sons hence the sources for credits to capital account in PR & Sons cannot be verifiable. Since the assessee has not produced purchase bills the above transactions cannot be verifiable. Therefore, the lower authorities has taken a correct decision in considering

ACIT, TRICHY vs. P.MURUGESAN, THANJAVUR

Bench: Shri Chandra Poojari & Shri V. Durga Rao

transferred from purchase account. No books of accounts were produced for the general account i.e., transactions other than PR & Sons hence the sources for credits to capital account in PR & Sons cannot be verifiable. Since the assessee has not produced purchase bills the above transactions cannot be verifiable. Therefore, the lower authorities has taken a correct decision in considering

P.MURUGESAN,CHENNAI vs. ACIT, TRICHY

Bench: Shri Chandra Poojari & Shri V. Durga Rao

transferred from purchase account. No books of accounts were produced for the general account i.e., transactions other than PR & Sons hence the sources for credits to capital account in PR & Sons cannot be verifiable. Since the assessee has not produced purchase bills the above transactions cannot be verifiable. Therefore, the lower authorities has taken a correct decision in considering

DEPUTY COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE-1, COIMBATORE, COIMBATORE vs. MS DAR PARADISE PVT. LTD., COIMBATORE

In the result, appeal filed by the revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 1106/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. Dar Paradise Pvt. Ltd., Income Tax, V. 599, Raja Street, Corporate Circle -1, Coimbatore – 641 001. Coimbatore. [Pan: Aafcd-3066-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ" क" ओर से/Respondent By : Shri. N. Arjun Raj, Ca सुनवाई क" तारीख/Date Of Hearing : 05.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.03.2024

unexplained cash credit u/s. 68 of the Act and brought to tax u/s. 115BBE of the Act. The Assessing Officer, has discussed the issue at length in light of evidences filed by the assessee, enquiry conducted during the course of assessment proceedings, no response from various persons in response to summons u/s. 131(1) of the Act or notices issued

R.SRINIVASAN,CHENNAI vs. DCIT CENTRAL CIRCLE 1, COIMBATORE

In the result, appeal filed by assessee is partly allowed

Bench: Shri V.Durga Rao & Shri G. Manjunathaआयकर अपीलसं./I.T.A.No.1466/Chny/2018 ("नधा"रणवष" / Assessment Year: 1996-97) Mr.R.Srinivasan Vs The Deputy Commissioner Of 103, Ashok Nagar Main Road Income Tax, Kodambakkam, Corporate Circle-I(2) Chennai-600 024. Chennai. Pan : Aaips 8386H (अपीलाथ"/Appellant) (""यथ"/Respondent)

Cash 2,00,000 ` 30,37,179 Total Hence, ` 30,37,179 may be treated as income of assessee since the assessee has not given any satisfactory explanation. 8.5 Credits in the name of S.Raja Amount ` Transferee @ AOP members A/c No. Bank Chennai account S Raja 2% 1152 IB Mannady , 1,01,00,000 Chennai 8.6.1 The above amounts

M/S. SRI BALAJI EDUCATIONAL AND CHARITABLE PUBLIC TRUST,CHENNAI vs. ACIT, CENTRAL CIRCLE-3(4), CHENNAI

In the result, the appeal of the Assessee and that of the Department are dismissed

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकर अपील सं./Ita No.: 1249/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 M/S. Sri Balaji Educational & Acit, Charitable Public Trust, Vs. Central Circle 3(4), No. 60, First Avenue, Chennai. Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (&'थ"/Respondent) [Pan: Aacts-1386-D] (अपीलाथ"/Appellant) आयकर अपील सं./Ita Nos.:1471/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 Acit, M/S. Sri Balaji Educational & Central Circle 3(4), Vs. Charitable Public Trust, Chennai. No. 60, First Avenue, Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (अपीलाथ"/Appellant) [Pan: Aacts-1386-D] (&'थ"/Respondent) िनधा$)रती की ओर से/Assessee By : Shri. Y.Sridhar, Fca राज4 की ओर से /Revenue By : Ms. E. Pavuna Sundari, Cit सुनवाई की तारीख/Date Of Hearing : 08.09.2025 घोषणा की तारीख/Date Of Pronouncement : 01.12.2025

transfer or receive any Specified Bank Notes. From the above what is clear is that up to the appointed date Le 31.12.2016, there is no prohibition for dealing with Specified Bank Notes. Therefore, in my considered view, the objection of the AO on this regard in light of said Act is devoid of merits. Further, a similar issue had been

ACIT, CHENNAI vs. SRI BALAJI EDUCATIONAL AMD TRUST CHARITABLE PUBLIC TRUST , CHENNA

In the result, the appeal of the Assessee and that of the Department are dismissed

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकर अपील सं./Ita No.: 1249/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 M/S. Sri Balaji Educational & Acit, Charitable Public Trust, Vs. Central Circle 3(4), No. 60, First Avenue, Chennai. Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (&'थ"/Respondent) [Pan: Aacts-1386-D] (अपीलाथ"/Appellant) आयकर अपील सं./Ita Nos.:1471/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 Acit, M/S. Sri Balaji Educational & Central Circle 3(4), Vs. Charitable Public Trust, Chennai. No. 60, First Avenue, Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (अपीलाथ"/Appellant) [Pan: Aacts-1386-D] (&'थ"/Respondent) िनधा$)रती की ओर से/Assessee By : Shri. Y.Sridhar, Fca राज4 की ओर से /Revenue By : Ms. E. Pavuna Sundari, Cit सुनवाई की तारीख/Date Of Hearing : 08.09.2025 घोषणा की तारीख/Date Of Pronouncement : 01.12.2025

transfer or receive any Specified Bank Notes. From the above what is clear is that up to the appointed date Le 31.12.2016, there is no prohibition for dealing with Specified Bank Notes. Therefore, in my considered view, the objection of the AO on this regard in light of said Act is devoid of merits. Further, a similar issue had been

NARESH PRASAD AGARWAL,CHENNAI vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

credit in bullion margin money account with the sales accounted by the assessee. We have at para 61 above upheld the order of the ld. 63. Commissioner of Income Tax (Appeals) deleting the addition for suppression in cash sales. Since the credits in Bullion margin money account were transferred as sales, ld. Commissioner of Income Tax (Appeals) directed the Assessing

SAHAI & SONS (I) LTD.,CHENNAI vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

credit in bullion margin money account with the sales accounted by the assessee. We have at para 61 above upheld the order of the ld. 63. Commissioner of Income Tax (Appeals) deleting the addition for suppression in cash sales. Since the credits in Bullion margin money account were transferred as sales, ld. Commissioner of Income Tax (Appeals) directed the Assessing

ACIT CENTRAL CIRCLE 3(1), CHENNAI vs. SHIV SAHAI & SONS (INDIA) LTD., CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

credit in bullion margin money account with the sales accounted by the assessee. We have at para 61 above upheld the order of the ld. 63. Commissioner of Income Tax (Appeals) deleting the addition for suppression in cash sales. Since the credits in Bullion margin money account were transferred as sales, ld. Commissioner of Income Tax (Appeals) directed the Assessing

ACIT, CHENNAI vs. NARESH PRASAD AGARWAL, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

credit in bullion margin money account with the sales accounted by the assessee. We have at para 61 above upheld the order of the ld. 63. Commissioner of Income Tax (Appeals) deleting the addition for suppression in cash sales. Since the credits in Bullion margin money account were transferred as sales, ld. Commissioner of Income Tax (Appeals) directed the Assessing

SMT. JAYANTHI SEEMAN,,CHENNAI vs. ITO, NCW - 1 (2), , CHENNAI

In the result the appeal of the assessee is partly allowed

credits in the bank account of M/s.Saraswathi Bhavanam, which were\nmostly by way of cash deposits as discussed in para 1 above. In response\nto the summons Smt.Jayanthi Seeman appeared on 05-09-2014 and a\nSworn Statement was recorded. Vide question No.4 of the statement\nSmt.Jayanthi Seeman was required to explain the details of cash deposits\nin her account

SMT. JAYANTHI SEEMAN,,CHENNAI vs. ITO, NCW - 1 (2),, CHENNAI

In the result the appeal of the assessee is partly allowed

credits in the bank account of M/s.Saraswathi Bhavanam, which were\nmostly by way of cash deposits as discussed in para 1 above. In response\nto the summons Smt.Jayanthi Seeman appeared on 05-09-2014 and a\nSworn Statement was recorded. Vide question No.4 of the statement\nSmt.Jayanthi Seeman was required to explain the details of cash deposits\nin her account

SMT. JAYANTHI SEEMAN,,CHENNAI vs. ITO, NCW - 1 (2),, CHENNAI

In the result the appeal of the assessee is partly allowed

credits in the bank account of M/s.Saraswathi Bhavanam, which were\nmostly by way of cash deposits as discussed in para 1 above. In response\nto the summons Smt.Jayanthi Seeman appeared on 05-09-2014 and a\nSworn Statement was recorded. Vide question No.4 of the statement\nSmt.Jayanthi Seeman was required to explain the details of cash deposits\nin her account

NEETA BOTHRA,CHENNAI vs. ITO NON CORPORATE WARD 9(3), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकर अपील सं./I.T.A.No.2507 & 2508/Chny/2018 ("नधा"रणवष" / Assessment Years:2012-13 & 2013-14) Vs The Income Tax Officer, Mrs. Neeta Bothra, 1/1, General Patters Road, Non-Corporate Ward-9(3) Chennai- 600 002. Chennai-6. Pan: Aaipb 0445J (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer of shares by the assessee as unexplained cash credit. No doubt, M/s. Tuni Textile Mills Ltd. may be named as penny stock by the income tax department based on facts gathered during the course of investigation. It may also be correct that financials of the company may not support such a huge rise in share price

NEETA BOTHRA,CHENNAI vs. ITO NON CORPORATE WARD 9(3), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकर अपील सं./I.T.A.No.2507 & 2508/Chny/2018 ("नधा"रणवष" / Assessment Years:2012-13 & 2013-14) Vs The Income Tax Officer, Mrs. Neeta Bothra, 1/1, General Patters Road, Non-Corporate Ward-9(3) Chennai- 600 002. Chennai-6. Pan: Aaipb 0445J (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer of shares by the assessee as unexplained cash credit. No doubt, M/s. Tuni Textile Mills Ltd. may be named as penny stock by the income tax department based on facts gathered during the course of investigation. It may also be correct that financials of the company may not support such a huge rise in share price

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

cash credits u/s.68 of the Act;\nb. addition on account of unexplained investment u/s.69 of the Act; and\nc. disallowance of expenses allegedly incurred for earning exempt income\nu/s.14A of the Act.\n76. Before adverting to the merits of the additions so made, we deem it\nappropriate, at the threshold, to examine the jurisdiction and scope of enquiry\npermissible

ACIT CC-3(2), CHENNAI vs. BMP STEELS P LTD, THIRUVALLUR

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1982, 1746, 1747, 1748, 1749, 1750 & 1751/Chny/2017 िनधा"रण वष" / Assessment Years: 2013-14, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12 & 2012-13 The Acit, M/S. Suryadev Alloys & Central Circle – 3(2), Power Pvt. Ltd., V. Chennai – 600 034. No.497 & 498, Isana Building, 8Th Floor, Poonamallee High Road, Arumbakkam, Chennai – 600 106. Pan: Aakcs 1246B (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.:1788/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Suryadev Alloys & Power The Acit, Pvt. Ltd., Central Circle – 3(2), V. No.497 & 498, Isana Building, Chennai – 600 034. 8Th Floor,Poonamallee High Road, Arumbakkam, Chennai – 600 106. Pan: Aakcs 1246B (अपीलाथ"/Appellant) (""यथ"/Respondent) &

transferring funds to beneficiary accounts leaving behind minimum balance, which clearly shows their inability to establish source for investment in assessee- company. The AO had also discussed financial strength of investor companies, more particularly M/s. Umra Properties & Finance Pvt. Ltd., and M/s. Sourabh Venture Capital Trust and observed that although two companies had total assets running into several crores