SUNDARAMAHALINGAM NARAYANAN,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX , CHENNAI

ITA 439/CHNY/2025Status: DisposedITAT Chennai15 June 2026AY 2015-1628 pages
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What were the facts?

The assessee sold agricultural land and received cash consideration over and above the registered sale deed value. A search operation unearthed evidence of this undisclosed cash receipt, leading to proceedings under Section 153C of the Income Tax Act.

What did the Tribunal hold?

The Tribunal held that the land constituted a capital asset. While confirming a portion of the undisclosed cash consideration as taxable, it restricted the addition based on admitted amounts and insufficient evidence for the balance.

What were the issues?

Whether the agricultural land was a capital asset and the taxability of undisclosed cash consideration received on its sale.

Which sections of the Income-tax Act were involved?

Section 153C,Section 132,Section 2(14)(iii),Section 56(2)(vii)(a)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI

Before: SHRI GEORGE GEORGE K & SHRI S.R. RAGHUNATHA

Hearing: 11.05.2026Pronounced: 15.06.2026

PER BENCH : The present appeals of the assessee are directed against the separate orders of the Learned Commissioner of Income Tax (Appeals)-20, Chennai [hereinafter referred to as “the Ld.CIT(A)”] both dated 16.12.2024, arising out of the assessment orders passed u/s.153C of the Income-tax Act, 1961 [hereinafter referred to as “the Act”] by the Assistant Commission

The order continues below.

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