THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

ITA 2570/CHNY/2025Status: DisposedITAT Chennai09 March 2026AY 2011-1246 pages
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What did the Tribunal hold?

The Tribunal examined various additions made to the assessee's income, including those related to house property, deemed dividends, and foreign travel expenses. The tribunal considered the special audit report and the assessee's submissions in its decision.

What were the facts?

A search and seizure operation was conducted on the assessee and his company, leading to a reassessment under Section 153A. The assessee's case was referred for a special audit due to complex transactions and lack of proper accounting. Subsequently, additions were made to the assessee's income based on the special audit report and other findings.

What were the issues?

The key issues revolve around the validity of additions made to the assessee's income based on a special audit report and the assessee's explanations regarding foreign travel expenses and deemed dividends.

Which sections of the Income-tax Act were involved?

Section 132,Section 153A,Section 143(3),Section 142(2A),Section 245C,Section 245D,Section 2(22)(e),Section 56(2)(vii)(c),Section 132(4)

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Cases cited in this judgment(8)Show list

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:-2-: ITA Nos: 2569, 2570, 2571, 2573 to 2577/Chny/2025 PER BENCH: ITA No(s). 2571, 2573 - 2577/CHNY/2025 for the Assessment Year: 2012-13 to 2016-17 & 2018-19: The assessee aggrieved by the order(s) of the Learned Commissioner of Income Tax (Appeals) – (in short “ld.CIT(A)”) for the Assessment Year(s) – (in short "A.Y.”) 2012-13 to 2016-17 & 2018-19 dated 24.07.2025, has filed the present batch of 6 appeals before this Tribunal.

2.

Since, the facts are the identical across all the appeals / for all the assessment years, except for the nature of the additions / disallowances varying in few of the Assessment Year(s) before this Tribunal in the present batch of 6 appeals, the appeal arising from the A.Y. 2012-13 is being taken up as the lead case with the consent of the both the Ld. AR as well as the Departmental Representatives.

3.

The brief fact of the present case is that the assessee, Shri Thanushkodi Narayanan, is the Managing Director of M/s.Annai Builders Real Estates Pvt Ltd. The assessee filed his original return of income for the A.Y. 2012-13 on 27.09.2012 in declaring a total income of Rs.24,87,430/-.

4.

A search and seizure operation was carried out in terms of Section 13

The order continues below.

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