ACIT, Madurai V. Shri N.Manimaran, Madurai

ITA 1531/CHNY/2011

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 58048 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-03-2012
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 14-03-2012
• Assessment Year: 2005-2006
• Appeal Filed On: 09-09-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R B NAIK
• Assessee Lawyers: P N B MURUGADOSS

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : CHENNAI [BEFORE SHRI N.S. SAINI, ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, JUDICIAL MEMBER] I.T.A.NO. 1531/MDS/2011 ASSESSMENT YEAR : 2005-06 THE ACIT CIRCLE II MADURAI VS SHRI N.MANIMARAN M/S MANO BOOK CENTRE NO.22 PUDU MANDABAM EAST CHITRAI STREET MADURAI 625 001 [PAN AHEPM1251G] (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI R.B.NAIK, CIT/DR RESPONDENT BY : SHRI P.N.B.MURUGADOSS DATE OF HEARING : 14-03-2012 DATE OF PRONOUNCEMENT : 14-03-2012 O R D E R PER N.S. SAINI, ACCOUNTANT MEMBER THIS IS AN APPEAL FILED BY THE REVEN UE AGAINST THE ORDER OF THE LD.CIT(A)-I, MADURAI, DATED 20.6.2011. 2. THE REVENUE HAS TAKEN FOUR GROUNDS OF APPEAL AN D THE ONLY ISSUE INVOLVED IS THAT THE LD.CIT(A) ERRED IN DELE TING THE ADDITION OF ` 56,34,828/- BEING THE AMOUNT DEPOSITED IN CURRENT A CCOUNT NO.02150053077730 WITH TAMILNADU MERCANTILE BANK (T MB), ` 32,20,896/- AND ` 24,77,377/- BEING AMOUNTS DEPOSITED IN CURRENT