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TMI Blog2019 (7) TMI 713X X X X Extracts X X X X X X X X Extracts X X X X ..... nds raised by the revenue in the appeal before it, on the issues other than two additions, do not arise from the assessment order and accordingly rejected the same and dismissed the appeal. The finding of the Tribunal does not call for any interference. Whether the additions under Section 40A(3) was warranted and after taking note of the factual matrix held that the assessee could demonstrate business expediency which justified the payment made in cash. We find no reasons to dislodge the factual findings recorded by the Tribunal. Cash deposit made in Karur Vysa Bank, the Tribunal after considering the factual position affirmed the order passed by the CIT(A) that it was proceeds of the deposits made by the assessee in the assessment ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are dismissed and the substantial questions of law are answered against the revenue. - Tax Case Nos.88 to 91 of 2018 - - - Dated:- 1-7-2019 - Mr. Justice T.S. Sivagnanam And Mrs. Justice V. Bhavani Subbaroyan For the Appellant : Mr.T.R.Senthil Kumar Senior Standing Counsel For the Respondent : Mr.A.S.Sriraman JUDGEMENT T.S.SIVAGNANAM, J. These Tax Case Appeals by the assessee, filed under Section 260-A of the Income Tax Act, 1961, ('the Act' for brevity) are directed against the common order passed by the Income Tax Appellate Tribunal, Madras A Bench, Chennai (Camp: Madurai) in I.T.A Nos.1155 1156/Mds/2015 and Cross Objection Nos.69 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er in pursuant tot he order u/s 264 of the I.T.Act, 1961? 3. We have heard Mr.T.R.Senthil Kumar, learned Senior Standing counsel for the appellant/Revenue and Mr.A.S.Sriraman, learned counsel for the respondent/assessee. 4. Four appeals have been filed by the Revenue as there are two appeals relating to the substantive assessments and two challenging the orders passed in the cross objections. 5. The assessee is an individual and engaged in the business of real estate and is running a lodging house. As the assessee did not file his return of income for the assessment years under consideration, notice under Section 148 of the Act was issued, after which, the asseessee filed return of income for b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... give a reconciliation with regard to the discrepancies pointed out. Accordingly, order dated 08.08.2014 was passed under Section 263 of the Act. 8. The appeal, which was filed by the assessee as against the re-assessment proceedings in ITA.No.78 and 79/13-14, was dismissed on 08.01.2015 on the ground that the Commissioner while passing the orders under Section 263 of the Act dated 08.08.2014 has set aside the entire assessement namely, the re-assessment order and therefore, nothing would survive in the assessee's appeal. 9. The Assessing Officer passed a giving effect to order dated 28.11.2014 by completing the assessments and making certain additions. Aggrieved by the same, the assessee preferred appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions made by the Assessing Officer in his order dated 28.11.2014 which was ₹ 36,500/- under Section 40A(3) and ₹ 10,77,188/- for the deposits made in Karur Vysa Bank. Therefore, the Tribunal held that the grounds raised by the revenue in the appeal before it, on the issues other than two additions, do not arise from the assessment order and accordingly rejected the same and dismissed the appeal. The finding of the Tribunal does not call for any interference. 12. The Tribunal next proceeded to consider as to whether the additions of ₹ 36,500/- under Section 40A(3) was warranted and after taking note of the factual matrix held that the assessee could demonstrate business expediency which justified the payment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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