SHRI S.A.BHIMARAJA,CHENNAI vs. JCIT, CHENNAI

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ITA 1167/CHNY/2010Status: DisposedITAT Chennai21 June 2023AY 2007-084 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal, in view of the assessee's request and no objection from the revenue, decided to remit the matter back to the Assessing Officer for fresh examination of evidence and decision.

What were the facts?

The assessee's case was selected for assessment based on AIR information regarding cash deposits and property purchase. The Assessing Officer made additions, and the CIT(A) dismissed the appeal. The Tribunal had previously partly allowed the appeal, but the High Court remitted the matter back to the Tribunal.

What were the issues?

The core issue was the proper examination of evidence and submissions by the Assessing Officer concerning cash deposits and property purchase. The High Court directed fresh consideration of the matter.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Before: Shri V. Durga Rao & Shri G. Manjunatha

Hearing: 21.06.2023Pronounced: 21.06.2023

O R D E R

PER V. DURGA RAO, JUDICIAL MEMBER:

1.

This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) VI, Chennai, dated 22.10.2010 relevant to the assessment year 2007-08.

2.

Brief facts of the case are that the assessee was full time salaried employee in M/s. Ramco Industries Ltd. The assessee filed his return of income for the assessment year 2007-08 on 31.10.2007 admitting total income of ₹.79,35,400/-. There was an AIR information that the assessee has made cash deposits of ₹.32,19,000/- of various amounts of rents received from various parties and an immovable property purchased for ₹.48,30,000/-. Based on the above information, the case of the assessee was taken up for assessment. After following due procedures, the Assessing Officer has completed the assessment under section 143(3) of the Income Tax Act, 1961 [“Act” in short] dated 30.12.2009 by assessing the total income of the assessee at ₹.3,18,42,159/-. On appeal, the ld. CIT(A) dismissed the appeal filed by the assessee. The assessee carried the matter in appeal before the Tribunal. Vide order dated 24.12.2010 in the Tribunal has partly allowed the appeal of the assessee.

3.

Aggrieved by the order of the Tribunal, the assessee carried the matter in appeal before the Hon’ble Madras High Court. Vide order dated 12.04.2022 in T.C.A. No. 245 of 2011, the Hon’ble Madras High Court remitted the matter to the Tribunal for fresh consideration and pass appropriate orders on merits. In view of the directions of the Hon’ble Madras High Court, the Tribunal posted the appeal for hearing.

4.

When the appeal was taken up for hearing, the ld. Counsel for the assessee has submitted that the issues may be remitted back to the file of the Assessing Officer to examine the evidences and decide the issues afresh in accordance with law.

5.

On the other hand, the ld. DR has not raised any objection to the submissions of the ld. Counsel.

6.

We have heard both the sides, perused the materials available on record and gone through the orders of the authorities below including the decision of the Hon’ble Madras High Court. In view of the plea of the ld. Counsel for the assessee and thereby no objection was raised by the ld. DR, we remit the matter back to the file of the Assessing Officer to decide the issues afresh in accordance after examining the evidences and submissions as may be furnished by the assessee by affording reasonable opportunity of being heard to the assessee.

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