ACIT, CENTRAL CIR-3(3), CHENNAI vs. JAI GUHAN VENTURE PROPERTIES P LTD, CHENNAI
In the result, appeal filed by the revenue is treated as allowed for statistical purposes
ITA 218/CHNY/2019[2007-08]Status: DisposedITAT Chennai04 Jan 2023AY 2007-08
Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 218/Chny/2019 िनधा"रण वष" / Assessment Year: 2007-08 The Assistant Commissioner Of M/S. Jai Guhan Venture Income-Tax, V. Properties Private Limited, Central Circle -3(3), Chennai Swathi Court, 41 Pent House, 46, Nungambakkam High No. 22, Vijayaraghava Road, Road, Chennai – 600 034. T. Nagar, Chennai – 600 017. [Pan: Aabcj-7113-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. S. Senthil Kumaran, Cit ""यथ" क" ओर से/Respondent By : Shri. R. Meenakshi Sundaram, Advocate सुनवाई क" तारीख/Date Of Hearing : 30.11.2022 घोषणा क" तारीख/Date Of Pronouncement : 04.01.2023 आदेश /O R D E R
For Appellant: Shri. S. Senthil Kumaran, CITFor Respondent: Shri. R. Meenakshi Sundaram
Section 132Section 153C
unexplained cash credit u/s. 68 of the Act. The relevant findings of the AO are as under:
5. In the return filed, assessee company has shown a capital of Rs.
1,00,000/- and issued unsecured loans of Rs.
6,29,93,970/-. On the assets side, it has shown cash bank balances of Rs. 32,22,413/-, Loans
