SRI MAHARANI FINANCE CORPORATION,THIRUCHENGODE vs. DCIT, CENTRAL CIRCLE, SALEM
The appeal stand allowed in terms of our above order
ITA 1262/CHNY/2023[2018-19]Status: DisposedITAT Chennai03 Jun 2024AY 2018-19
Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.1264/Chny/2023 (िनधा;रणवष; / Assessment Year: 2016-17) & 2. आयकरअपील सं./ Ita No.1261/Chny/2023 (िनधा;रणवष; / Assessment Year: 2017-18) & 3. आयकरअपील सं./ Ita No.1262/Chny/2023 (िनधा;रणवष; / Assessment Year: 2018-19) Sri Maharani Finance Corporation Dcit बनाम/ 24A, Velur Road, Central Circle, Vs. Tiruchengode-637 211. Salem. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aahfs-0488-B (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant By : Shri N. Arjun Raj (Ca)-Ld.Ar " थ"कीओरसे/Respondent By : Shri Ar V Sreenivasan (Addl.Cit)-Ld. Sr. Dr सुनवाई की तारीख/Date Of Hearing : 16-05-2024 घोषणा की तारीख /Date Of Pronouncement : 03-06-2024 आदेश / O R D E R Per Bench: 1. Aggrieved By Confirmation Of Certain Penalty In Captioned Assessment Years, The Assessee Is In Further Appeal Before Us. First, We Take Up Ita No.1264/Chny/2023 For Ay 2016-17 Which Arises Out Of The Order Of Learned Commissioner Of Income Tax (Appeals)-20, Chennai
For Appellant: Shri N. Arjun Raj (CA)-Ld.ARFor Respondent: Shri AR V Sreenivasan (Addl.CIT)-Ld. Sr. DR
Section 133ASection 147Section 148Section 271(1)(c)Section 274
133A on 19-02-2020, the case for this year was reopened and an assessment was framed u/s 147 on 22-03-2022. The survey proceedings revealed that the assessee introduced new deposits /
unsecured loans for Rs.48 Lacs which were treated as unexplained cash credit. The assessee claimed interest expenditure of Rs.5.92 Lacs against the same in this year which
