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TMI Blog2021 (4) TMI 405X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee to that of the department for proving that utilization of the sale proceeds for the purpose other than investment into money lending business is sustainable? - HELD THAT:- On a perusal of the order passed by the Tribunal in the earlier round [ 2017 (9) TMI 1925 - ITAT CHENNAI] there was a positive direction to the Assessing Officer to grant certain reliefs to the assessee set aside the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BLE MR.JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MS.JUSTICE R.N.MANJULA For Appellant: Mr.M.Swaminathan, SSC For Respondent: Mr.M.P.Senthil Kumar JUDGMENT T.S.SIVAGNANAM, J This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act), is directed against the order dated 14.09.2017 made in I.T.(SS) A.No.4/Mds/2017 on the file of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the purpose other than investment into money lending business is sustainable? 3. We have heard Mr.M.Swaminathan, learned Senior Standing Counsel appearing for the appellant-Revenue and Mr.M.P.Senthil Kumar, learned counsel for the respondent. 4. The Assessing Officer completed the block assessment vide order dated 31.12.2009. Aggrieved by the same, the assessee preferred appeal before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mit the matter to the Assessing Officer with a direction to examine the search document carefully and verify whether cash was available with the assessee and sale proceeds from sale of jewellery etc have been used for acquiring other assets and if not found so, then corresponding credit should be given towards unaccounted money lending business. In the light of above facts, I hold that the Assessi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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