PERIYASAMY ANBUNATHAN,KARUR vs. DCIT, CC-1(4), CHENNAI

ITA 1489/CHNY/2025Status: DisposedITAT Chennai23 January 2026AY 2016-171 pages
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What did the Tribunal hold?

The Tribunal applied the principle of telescoping, allowing the assessee to offset unaccounted income offered to tax against seized cash. The Tribunal confirmed the deletion of the impugned addition by the CIT(A).

What were the facts?

During a search, unaccounted cash and account books were found. The assessee initially admitted to business income but later retracted statements, claiming certain entries related to another person. The assessee also admitted to unaccounted income from finance business and investments.

What were the issues?

Whether the assessee can telescope unaccounted income offered to tax against seized cash, and the validity of additions made on account of suppressed profits and cash credits.

Which sections of the Income-tax Act were involved?

Section 132,Section 131,Section 153A,Section 250

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Cases cited in this judgment(23)Show list

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आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI "ी एबी टी. वक", "ाियक सद" एवं एवं एवं एवं "ी एस. आर. रघुनाथा, लेखा सद" के सम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI S.R.RAGHUNATHA, ACCOUNTANT MEMBER

आयकर अपील सं./ITA Nos.1488 & 1489/Chny/2025 िनधा"रण वष"/Assessment Years: 2015-16 & 2016-17

Periyasamy Anbunathan, v. The DCIT, Central Circle-1(4), Thottakurichi Post, Chennai. Karur-639 113. [PAN: AHMPA 6511 H] (अपीलाथ"/Appellant) (""यथ"/Respondent)

आयकर अपील सं./ITA Nos.1529, 1536, 1595 & 1596/Chny/2025 िनधा"रण वष"/Assessment Years: 2014-15, 2017-18, 2015-16 & 2016-17 & Cross-Objection Nos.45 & 46/Chny/2025 [in ITA Nos.1595 & 1596/Chny/2025] िनधा"रण वष"/Assessment Years: 2015-16 & 2016-17

The DCIT, v. Periyasamy Anbunathan, Central Circle-1(4), Chennai. Thottakurichi Post, Karur-639 113. [PAN: AHMPA 6511 H] (अपीलाथ"/Appellant) (""यथ"/Respondent/Cross Objector) अपीलाथ" की ओर से/ Assessee by : Mr.J.K. Reddy, CA ""थ" की ओर से /Department by : Ms.E. Pavuna Sundari, CIT : सुनवाईक"तारीख/Date of Hearing 29.10.2025 : घोषणाक"तारीख /Date of Pronouncement 23.01.2026

ITA No.1488/C

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