MUTHIAH LAKSHMANAN,CHENNAI vs. ITO, NCW-3(5), CHENNAI

ITA 3016/CHNY/2025Status: DisposedITAT Chennai01 January 2026AY 2022-23Bench: SHRI MANU KUMAR GIRI (Judicial Member), SHRI S. R. RAGHUNATHA (Accountant Member)5 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal observed that the CIT(A) had provided opportunities for hearing and the assessee had filed submissions. However, the assessee's representative argued that documents and submissions were ignored. The Tribunal set aside the CIT(A)'s order and remitted the matter back to the AO for fresh assessment.

What were the facts?

The assessee filed a return admitting Nil income, but disclosed sale consideration of shares/MF units on which STT was paid. The AO, finding the assessee non-responsive to notices, made additions under sections 69 and for STCG, leading to a substantial total income. The CIT(A) partly allowed the appeal.

What were the issues?

Whether the CIT(A) correctly decided the appeal on merits without considering all documentary evidence and submissions, and whether the case should be remitted back to the AO for fresh consideration of additional evidence.

Which sections of the Income-tax Act were involved?

Section 144,Section 144B,Section 69,Section 111A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH, CHENNAI

Before: SHRI MANU KUMAR GIRI & SHRI S. R. RAGHUNATHA

For Respondent: Shri. ARV Sreenivasan, C.I.T
Hearing: 16.12.2025Pronounced: 01.01.2026

PER S. R. RAGHUNATHA, AM :

This appeal of the assessee is filed against the order of the learned Commissioner of Income Tax (Appeals), NFAC, Delhi, (in short “ld.CIT(A)”) for the assessment year (A.Y.) 2022-23, vide order dated 17.09.2025. 2. Brief facts of the case are that the assessee is an individual, earning income from trading activities through ICICI Direct, Zerodha, Kotak Securities and has filed his r

The order continues below.

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