DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. CHITRAVEL VETRIMARAN, CHENNAI

ITA 904/CHNY/2025Status: DisposedITAT Chennai22 October 2025AY 2017-1829 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, finding that the seized loose sheets did not constitute 'money, bullion, jewellery or valuable article' as required by Section 69A. The Tribunal also noted the CIT(A)'s finding that the Assessing Officer lacked jurisdiction to invoke Section 153C.

What were the facts?

The Revenue appealed against the CIT(A)'s deletion of additions made on account of alleged cash loan transactions. The Assessing Officer initiated proceedings under section 153C based on incriminating materials seized during a search in another person's premises, which indicated cash transactions between the assessee and a film financier.

What were the issues?

Whether the CIT(A) erred in deleting additions made under Section 69A based on loose sheets seized from a third party, and whether the Assessing Officer had valid jurisdiction under Section 153C.

Which sections of the Income-tax Act were involved?

Section 153C,Section 69A,Section 132,Section 143(2),Section 142(1),Section 271D,Section 271E,Section 115BBE

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Income Tax Appellate Tribunal, ‘B’ BENCH, CHEΝΝΑΙ

Before: SHRI GEORGE GEORGE KAND SHRI S.R. RAGHUNATHA

PER GEORGE GEORGE K, VICE PRESIDENT:

These appeals at the instance of the Revenue is directed against the consolidated order of the Commissioner of Income Tax (Appeals) - 19, Chennai dated 17.01.2025, passed under section 250 of the Income Tax Act, 1961 (hereinafter called 'the Act'). The relevant Assessment Years are 2017-18 & 2019-20. 2. The common issues are involved in these appeals, h

The order continues below.

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