DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

property, being land or building or both, shares\nand securities, loans and advances, deposits in bank account.\n(1A) Notwithstanding anything contained in sub-section (1), where the\nincome chargeable to tax represented in the form of an asset or\nexpenditure in relation to an event or occasion of the value referred to\nin clause (b) of sub-section

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

property, being land or building or both, shares\nand securities, loans and advances, deposits in bank account.\n(1A) Notwithstanding anything contained in sub-section (1), where the\nincome chargeable to tax represented in the form of an asset or\nexpenditure in relation to an event or occasion of the value referred to\nin clause (b) of sub-section

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

property, being land or building or both, shares\nand securities, loans and advances, deposits in bank account.\n(1A) Notwithstanding anything contained in sub-section (1), where the\nincome chargeable to tax represented in the form of an asset or\nexpenditure in relation to an event or occasion of the value referred to\nin clause (b) of sub-section

SOUTHERN AGRIFURANE INDUSTRIES PVT.. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2), CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

property, being land or building or both, shares\nand securities, loans and advances, deposits in bank account.\n(1A) Notwithstanding anything contained in sub-section (1), where the\nincome chargeable to tax represented in the form of an asset or\nexpenditure in relation to an event or occasion of the value referred to\nin clause (b) of sub-section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI, CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

In the result, all appeals filed by the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

properties and derived agricultural income. That income was utilised to acquire jewellery that was belonging to him and his family. With regard to cash stated to be recovered from the students for granting admissions, we do not find that any inquiries were made. There is absolutely nothing to indicate as to in which educational courses, the education is imparted

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

property, being land or building or both, shares\nand securities, loans and advances, deposits in bank account.\n(1A) Notwithstanding anything contained in sub-section (1), where the\nincome chargeable to tax represented in the form of an asset or\nexpenditure in relation to an event or occasion of the value referred to\nin clause (b) of sub-section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

property, being land or building or both, shares\nand securities, loans and advances, deposits in bank account.\n(1A) Notwithstanding anything contained in sub-section (1), where the\nincome chargeable to tax represented in the form of an asset or\nexpenditure in relation to an event or occasion of the value referred to\nin clause (b) of sub-section

K.S.RAVIKUMAR,COIMBATORE vs. ACIT, TRICHY

In the result, the appeals of the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1505, 1506, 1507, 1508 & 1509/Mds/2014 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 Shri K.S. Ravikumar, The Assistant Commissioner Of No.26/3, Sasti Illam, V. Income Tax, Vivekananda Nagar, Singanallur, Central Circle Ii, Coimbatore – 641 005. Trichy. Pan : Ajhpr 3493 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

house property in the balance sheet. Therefore, the addition of `56,70,000/- is also deleted. 25. Moreover, recording of satisfaction in respect of proceeding under Section 153C

K.S.RAVIKUMAR,COIMBATORE vs. ACIT, TRICHY

In the result, the appeals of the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1505, 1506, 1507, 1508 & 1509/Mds/2014 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 Shri K.S. Ravikumar, The Assistant Commissioner Of No.26/3, Sasti Illam, V. Income Tax, Vivekananda Nagar, Singanallur, Central Circle Ii, Coimbatore – 641 005. Trichy. Pan : Ajhpr 3493 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

house property in the balance sheet. Therefore, the addition of `56,70,000/- is also deleted. 25. Moreover, recording of satisfaction in respect of proceeding under Section 153C

K.S.RAVIKUMAR,COIMBATORE vs. ACIT, TRICHY

In the result, the appeals of the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1505, 1506, 1507, 1508 & 1509/Mds/2014 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 Shri K.S. Ravikumar, The Assistant Commissioner Of No.26/3, Sasti Illam, V. Income Tax, Vivekananda Nagar, Singanallur, Central Circle Ii, Coimbatore – 641 005. Trichy. Pan : Ajhpr 3493 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

house property in the balance sheet. Therefore, the addition of `56,70,000/- is also deleted. 25. Moreover, recording of satisfaction in respect of proceeding under Section 153C

K.S.RAVIKUMAR,COIMBATORE vs. ACIT, TRICHY

In the result, the appeals of the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1505, 1506, 1507, 1508 & 1509/Mds/2014 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 Shri K.S. Ravikumar, The Assistant Commissioner Of No.26/3, Sasti Illam, V. Income Tax, Vivekananda Nagar, Singanallur, Central Circle Ii, Coimbatore – 641 005. Trichy. Pan : Ajhpr 3493 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

house property in the balance sheet. Therefore, the addition of `56,70,000/- is also deleted. 25. Moreover, recording of satisfaction in respect of proceeding under Section 153C

K.S.RAVIKUMAR,COIMBATORE vs. ACIT, TRICHY

In the result, the appeals of the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1505, 1506, 1507, 1508 & 1509/Mds/2014 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 Shri K.S. Ravikumar, The Assistant Commissioner Of No.26/3, Sasti Illam, V. Income Tax, Vivekananda Nagar, Singanallur, Central Circle Ii, Coimbatore – 641 005. Trichy. Pan : Ajhpr 3493 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

house property in the balance sheet. Therefore, the addition of `56,70,000/- is also deleted. 25. Moreover, recording of satisfaction in respect of proceeding under Section 153C

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

153C of the Act on\n03.12.2018.\n51. Though we find that the statement(s) dated 03.04.2017 &\n10.04.2017 had been retracted and also subjected to cross-examination\nprior to the recording of satisfaction note by the AO, we however consider\nit prudent to once examine its contents as well. Having gone through\nthese statements, it is seen that, Shri

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

153C of the Act on\n03.12.2018.\n51. Though we find that the statement(s) dated 03.04.2017 &\n10.04.2017 had been retracted and also subjected to cross-examination\nprior to the recording of satisfaction note by the AO, we however consider\nit prudent to once examine its contents as well. Having gone through\nthese statements, it is seen that, Shri

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRLCE-1(4), CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

153C of the Act on\n03.12.2018.\n51. Though we find that the statement(s) dated 03.04.2017 &\n10.04.2017 had been retracted and also subjected to cross-examination\nprior to the recording of satisfaction note by the AO, we however consider\nit prudent to once examine its contents as well. Having gone through\nthese statements, it is seen that, Shri

R.VISWANATHAN,,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

house on 22-04-2016, details of income and\nexpenditures are written in S.No.1 to 6. Explain the details for it.\nAns: I am in finance business at Karur, for the past 10 years. The\nentries in the books seized relate to my finance business in the past 3\nyears. I have been doing finance business, as written

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI

153C of the Act on\n03.12.2018.\n51. Though we find that the statement(s) dated 03.04.2017 &\n10.04.2017 had been retracted and also subjected to cross-examination\nprior to the recording of satisfaction note by the AO, we however consider\nit prudent to once examine its contents as well. Having gone through\nthese statements, it is seen that, Shri

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

153C, all other provisions of this Act shall apply to the assessment made under this section;\n(ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.”\n\n2.2. It is submitted that when there is a search