VALUZHATHIL PADMANABHAN SIVADASAN,THIRUVALLA vs. INCOME TAX OFFICER , WARD-2, THIRUVALLA

In the result, the appeal filed by the assessee stands allowed

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2015-16 Valuzhathil Padmanabhan Sivadasan .......... Appellant Valuzhathil House, Kozhuvalloor, Thiruvalla [Pan: Akaps3606C] Vs. The Income Tax Officer, Ward-2, Thiruvalla .......... Respondent Assessee By: Shri Stephen George, Ar Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 06.11.2025 Date Of Pronouncement: 21.11.2025 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals)-2, Noida [Cit(A)] Dated 25.08.2025 For Assessment Year (Ay) 2015-16. 2. Brief Facts Of The Case Are That The Appellant Is A Non-Resident Indian. No Regular Return Of Income Under The Provisions Of Section 139(1) Of The Income Tax Act, 1961 (The Act) Was Filed By The Appellant. The Dcit (International Taxation) Lkn (Hereinafter Called "The Ao"), Based On The Information That The Appellant Made Term Deposits In Bank & Earned Interest Income Of Deposits, Formed An Opinion That Income Escaped Assessment To Tax. Accordingly, The 2 Valuzhathil Padmanabhan Sivadasan Ao Issued A Notice U/S. 148 Of The Act After Duly Complying The Provisions Of Section 148(A) Of The Act. In Response To The Notice U/S. 148, The Appellant Filed Return Of Income For Ay 2016-17 On 30.08.2022 Declaring Total Income Of Rs. 2,44,870/-. Against The Said Return Of Income, The Assessment Was Completed By The Ao Vide Order Dated 26.05.2023 Passed U/S. 147 R.W.S. 144C(3) Of The Act At Total Income Of Rs. 35,01,948/-. While Doing So, The Ao Brought To Tax The Income Of Salary Of Rs. 32,57,078/-.