SRI GANESHAN V vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -2(1)

JUDGMENT Anu Sivaraman,J. 1.This appeal is directed against Annexure C order of the Income Tax Appellate Tribunal. The appellant had filed a return of income for the assessment year 2009-2010. Pursuant to a survey conducted in the premises in terms of Section 133A of the Income Tax Act, assessment was completed under Section 143(3) read with Section 147 of that Act and a total income of Rs.31,99,600/- was assessed and a demand was raised. The assessee claimed that a part of the income assessed was obtained as loans from financial institutions and that the additions made by the assessing authority were not justified by the facts. The additions towards interest were also impugned as being excessive. The first appellate authority dismissed the appeal on these points against which the assessee had gone in appeal before the ITAT. The ITAT considered the contentions raised and refused to interefere with the order of the first appellate authority.

I.T.A No.17 of 2016 2 From a reading of the order under challenge, it is clear that the ITAT has considered the contentions advanced on behalf of the appellant and had come to a reasoned conclusion as regards the factual contentions urged by the appellant. No question of law, much less, any substantial question of law arises for consideration in this appeal under Section 260A of the Income Tax Act. In the above circumstances, the IT Appeal fails and is accordingly dismissed. Thottathil B. Radhakrishnan, Judge Anu Sivaraman, Judge

sj4/3 // P.A. to Judge