M/S. P.P. FINANCIERS,CHENNAI vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

ITA 222/CHNY/2025Status: DisposedITAT Chennai09 February 2026AY 2018-19141 pages
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What did the Tribunal hold?

The Tribunal held that the seized documents could not be conclusively attributed to the assessee firm without clear and exclusive identification. Reliance on sworn statements was also found to be unsustainable as they did not confirm the seized material belonged to the assessee firm.

What were the facts?

The Income Tax Appellate Tribunal heard a batch of appeals concerning the P.Palanisamy Group, involving multiple assessees and assessment years. The appeals arose from assessment orders passed under sections 153A and 153C of the Income Tax Act, 1961.

What were the issues?

The key issues were whether seized documents could be attributed to the assessee firm and the validity of additions made based on presumptions and sworn statements without conclusive identification.

Which sections of the Income-tax Act were involved?

Section 153A,Section 153C,Section 143(3),Section 144,Section 292C

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Cases cited in this judgment(30)Show list

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आयकर अपीलीय अधिकरण, ’सी’ यायपीठ, चेनई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI श्री मनु कुमार गिरि, न्यायिक सदस्य एवं श्री एस. आर. रघुनाथा, लेखा सदस्य के सम BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI S.R.RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.1119, 1120 & 1121/Chny/2025 निधारण वष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./ITA Nos.209 to 213 & 214/Chny/2025 निधारण वष/Assessment Years: 2010-11 to 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9th Main I Cross, HAL II Stage, Indira Nagar, Bengaluru-560 038. v.

The ACIT, Central Circle-3, Coimbatore. [PAN:ADSPP 9150 F] (अपीलाथ/Appellant) (यथ/Respondent) आयकर अपील सं./ITA Nos.219, 220, 221 & 222/Chny/2025 निधारण वष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./ITA Nos.200, 201 to 208/Chny/2025 निधारण वष/Assessment Years: 2016-17, 2011-12 to 2018-19 & आयकर अपील सं./ITA Nos.3388 to 3392/Chny/2024 िनधारण वष/Assessment Years: 2014-15 to 2018-19 M/s. P.P. Financers, 24, Radha Avenue, 3rd Street, Valsaravakkam, Chennai-600 087. v.

The ACIT, Central Circle-3, Coimbatore. [PAN: AAHFP 0288 L] (अपीलाथ/Appellant) (यथ/Respondent) आयकर अपील सं./ITA No

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