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Section 271(1)(c)6 Section 1324 Section 143(3)3 Penalty3 Section 732 Section 271A2 Cash Deposit2 Addition to Income2 Undisclosed Income2

THE ASST. COMMISSIONER OF INCOME TAX., VISAKHAPATNAM vs. SRI M. SOMABRAHMAM,, VISAKHAPATNAM

In the result, the appeal filed by the revenue is dismissed and the

ITA 126/VIZ/2017[2013-2014]Status: DisposedITAT Visakhapatnam16 Mar 2018AY 2013-2014

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

For Appellant: Shri T. Satyanandam, DRFor Respondent: Shri G.V.N. Hari, AR

Section 132Section 143(3)Section 271(1)(c)Section 271A

271(1)(c)/271AAB of the Act. The assessee admitted additional income for the assessment year 2013-14 with the following breakup: Sl. Description Amount No. Cheques deposited into the bank account of my 1 56,74,868.00 employees (present & former) 2 Gold jewellery weighing 1530.40 gms 55,94,482.00 3 22 carats of diamonds 11,79,350.00 4 Silver

THE ASST. COMMISSIONER OF INCOME TAX., VISAKHAPATNAM vs. SRI M. SOMABRAHMAM,, VISAKHAPATNAM

THE ASST. COMMISSIONER OF INCOME TAX., VISAKHAPATNAM vs. SRI M. SOMABRAHMAM,, VISAKHAPATNAM

MOTHUKURI SOMABRAHMAM,,VISAKHAPATNAM vs. THE DEPUTY. CIT,, VISAKHAPATNAM

MS USHA TUBUS & PIPES PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

SRI RAJANI GOLD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA