ARIYANGOUNDAMPATTI VARUTHARAJAN,NAMAKKAL TAMILNADU vs. ITO,SALEMROAD NAMAKKAL, NAMAKKAL TAMILNADU

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ITA 244/CHNY/2023Status: DisposedITAT Chennai30 March 2023AY 2011-125 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal confirmed the addition of Rs. 25 lakhs as unexplained cash deposits, stating that the assessee failed to provide any evidence to substantiate the sources of these deposits, even when given an opportunity.

What were the facts?

The Assessing Officer noticed cash deposits of Rs. 38 lakhs in the assessee's savings bank account. The AO accepted Rs. 13 lakhs as explained and added the remaining Rs. 25 lakhs as unexplained income.

What were the issues?

The primary issue was the addition of unexplained cash deposits. A secondary issue concerned the validity of the notice issued under Section 148 and the approval obtained under Section 151.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 148,Section 151

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ /SMC BENCH, CHENNAI

Before: SHRI MAHAVIR SINGH, VICE-

Hearing: 30.03.2023

per law or vitiated. In absence of any arguments, I have no hesitation in rejecting grounds of appeal raised by the assessee. Hence, this ground of the assessee is also dismissed.

8.

In the result, appeal of the assessee is dismissed.

Order pronounced in the open court on 30th March, 2023

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