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

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

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

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

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-:

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

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

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

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

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

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

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

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

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

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

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

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

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

V.R.VENKAATACHALAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.2634, 2635, 2636, 2637, 2638 & 2639/Mds/2014 ("नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2008-09, 2009- 10, 2010-11 & 2011-2012)

173/- --------------------- 15,03,06,250/- Closing balance of capital as on 31.03.2007 : 15,25,96,482/- -------------------- Difference in the Capital Account : 22,90,232/- --------------------- The ld. Authorised Representative for assessee vide letter dated 22.12.2009 before the Commissioner of Income Tax has stated that the closing balance kept with Indian Bank Porur ("3,86,774/-), Bank of Baroda

V.R.VENKAATACHALAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.2634, 2635, 2636, 2637, 2638 & 2639/Mds/2014 ("नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2008-09, 2009- 10, 2010-11 & 2011-2012)

173/- --------------------- 15,03,06,250/- Closing balance of capital as on 31.03.2007 : 15,25,96,482/- -------------------- Difference in the Capital Account : 22,90,232/- --------------------- The ld. Authorised Representative for assessee vide letter dated 22.12.2009 before the Commissioner of Income Tax has stated that the closing balance kept with Indian Bank Porur ("3,86,774/-), Bank of Baroda

V.R.VENKAATACHALAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.2634, 2635, 2636, 2637, 2638 & 2639/Mds/2014 ("नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2008-09, 2009- 10, 2010-11 & 2011-2012)

173/- --------------------- 15,03,06,250/- Closing balance of capital as on 31.03.2007 : 15,25,96,482/- -------------------- Difference in the Capital Account : 22,90,232/- --------------------- The ld. Authorised Representative for assessee vide letter dated 22.12.2009 before the Commissioner of Income Tax has stated that the closing balance kept with Indian Bank Porur ("3,86,774/-), Bank of Baroda

V.R.VENKAATACHALAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.2634, 2635, 2636, 2637, 2638 & 2639/Mds/2014 ("नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2008-09, 2009- 10, 2010-11 & 2011-2012)

173/- --------------------- 15,03,06,250/- Closing balance of capital as on 31.03.2007 : 15,25,96,482/- -------------------- Difference in the Capital Account : 22,90,232/- --------------------- The ld. Authorised Representative for assessee vide letter dated 22.12.2009 before the Commissioner of Income Tax has stated that the closing balance kept with Indian Bank Porur ("3,86,774/-), Bank of Baroda

V.R.VENKAATACHALAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.2634, 2635, 2636, 2637, 2638 & 2639/Mds/2014 ("नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2008-09, 2009- 10, 2010-11 & 2011-2012)

173/- --------------------- 15,03,06,250/- Closing balance of capital as on 31.03.2007 : 15,25,96,482/- -------------------- Difference in the Capital Account : 22,90,232/- --------------------- The ld. Authorised Representative for assessee vide letter dated 22.12.2009 before the Commissioner of Income Tax has stated that the closing balance kept with Indian Bank Porur ("3,86,774/-), Bank of Baroda

V.R.VENKAATACHALAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.2634, 2635, 2636, 2637, 2638 & 2639/Mds/2014 ("नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2008-09, 2009- 10, 2010-11 & 2011-2012)

173/- --------------------- 15,03,06,250/- Closing balance of capital as on 31.03.2007 : 15,25,96,482/- -------------------- Difference in the Capital Account : 22,90,232/- --------------------- The ld. Authorised Representative for assessee vide letter dated 22.12.2009 before the Commissioner of Income Tax has stated that the closing balance kept with Indian Bank Porur ("3,86,774/-), Bank of Baroda

THE CUDDALORE DISTRICT CENTRAL CO-OP BANK LTD.,CUDDALORE vs. DCIT CUDDALORE CIRCLE, CUDDALORE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

section 147, therefore not requiring the AO to establish failure on the part of assessee to fully and truly disclose the material and facts required for correct assessment of income. 3. The Ld.CIT(A) has erred in quashing the reassessment by holding that the reasons recorded by the AO do not indicate as to how and why there

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. ACIT, CIRCLE-I,, CUDDALORE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

section 147, therefore not requiring the AO to establish failure on the part of assessee to fully and truly disclose the material and facts required for correct assessment of income. 3. The Ld.CIT(A) has erred in quashing the reassessment by holding that the reasons recorded by the AO do not indicate as to how and why there

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. ACIT, CIRCLE-II,, CUDDALORE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

section 147, therefore not requiring the AO to establish failure on the part of assessee to fully and truly disclose the material and facts required for correct assessment of income. 3. The Ld.CIT(A) has erred in quashing the reassessment by holding that the reasons recorded by the AO do not indicate as to how and why there

THE VILLUPURAM DISTRICT CENTRAL COOPERTATIVE BANK LTD.,,VILLUPURAM vs. DCIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

section 147, therefore not requiring the AO to establish failure on the part of assessee to fully and truly disclose the material and facts required for correct assessment of income. 3. The Ld.CIT(A) has erred in quashing the reassessment by holding that the reasons recorded by the AO do not indicate as to how and why there

THE VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD.,,VILLUPURAM vs. DCIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

section 147, therefore not requiring the AO to establish failure on the part of assessee to fully and truly disclose the material and facts required for correct assessment of income. 3. The Ld.CIT(A) has erred in quashing the reassessment by holding that the reasons recorded by the AO do not indicate as to how and why there

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CUDDALLORE vs. M/S VILLUPURAM DISTRICT CENTRAL COOPERATIVE BANK LTD., VILLUPURAM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Mahavir Singh & Shri Manjunatha.G

section 147, therefore not requiring the AO to establish failure on the part of assessee to fully and truly disclose the material and facts required for correct assessment of income. 3. The Ld.CIT(A) has erred in quashing the reassessment by holding that the reasons recorded by the AO do not indicate as to how and why there