THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI
ITA 2570/CHNY/2025[2011-12]Status: DisposedITAT Chennai09 Mar 2026AY 2011-12
Bench: 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 & Seizure Operation Was Carried Out In Terms Of Section 132 Of The Act On 04.10.2017 In The Residential Premises Of The Assessee & Also In The Premises Of M/S.Annai Builders Real Estates Pvt. Ltd. In Which The Assessee Is The Managing Director. 5. Thereafter, A Notice U/S.153A Of The Act For The A.Y.2012-13 Was Issued On 25.09.2018 To The Assessee By The Assessing Officer (In Short “Ao”) & In Response To The Same, The Assessee Had Filed E-Return Of Income For The A.Y. 2012-13 On 17.08.2019 In Declaring Total Income Of Rs.14,53,440/-. :-3-:
Section 132Section 142Section 142(1)Section 143(2)Section 153A
from Business as returned (Rs. 21,79,744/-)
Rs. 4,65,000/-
D. Income from Other Sources Rs. 5,60,470/-
as returned
Add: Deemed dividend u/s 2(22)(e) (as Rs. 1,38,70,048/-
in paras 14.1 to 14.13)
Add: Addition ... Property by following the procedure laid down under the Act
at para 6.4.6., had confirmed the addition of Rs.1,38,70,048/- made as deemed
dividend u/s.2(22)(e) of the Act at para 6.5.3 and confirmed the addition of
Rs.92,95,305/- made u/s.56(2)(viii
