M.VADIVEL,SALEM vs. ITO, SALEM

ITA 965/CHNY/2015Status: DisposedITAT Chennai01 January 2016AY 2009-105 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the debit balance as on March 31, 2008, pertained to the assessment year 2008-09 and could not be assessed in the assessment year 2009-10. Consent for addition in the wrong year does not grant jurisdiction.

What were the facts?

The assessee's Syndicate Bank account showed a debit balance of Rs. 1,50,812 as on March 31, 2008. The Assessing Officer treated this debit balance as income for the assessment year 2009-10, despite it pertaining to the previous assessment year.

What were the issues?

Whether a debit balance in a bank account as of the previous year-end can be assessed as income in the current assessment year. Whether consent by the assessee's representative can confer jurisdiction on the Assessing Officer for an assessment year to which the income does not pertain.

Which sections of the Income-tax Act were involved?

Not explicitly mentioned, but relates to assessment of income and jurisdiction.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, CHENNAI

Before: SHRI N.R.S. GANESAN & SHRI A. MOHAN ALANKAMONY

Hearing: 11.12.2015Pronounced: 01.01.2016

PER N.R.S. GANESAN, JUDICIAL MEMBER:

This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals), Salem, dated

29.01.

2015 and pertains to assessment year 2009-10. The only

issue arises for consideration is with regard to addition of `1,50,812/- being the balance as on 31.03.2008 in the account

maintained by the assessee with S

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

Recent GST High Court judgments

Search GST case law →