M.Shahul Hameed, CHENNAI V. ACIT, CHENNAI

ITA 1704/CHNY/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 2480 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-05-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 16-05-2013
• Assessment Year: 2008-2009
• Appeal Filed On: 07-09-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S DASGUPTA; MRS RU GEORGE
• Assessee Lawyers: K MEENAKSHISUNDARAM ITP
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI BEFORE SHRI N.S. SAINI, ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER ITA NO. 1 7 04/MDS/2012 (ASSESSMENT YEAR : 2008-09) MR. M.SHAHUL HAMEED, PROP. M/S. UNION STEELS, 15/48, M.K.N. ROAD, GUINDY, CHENNAI-600 032. PAN: AYUPS6694J VS. ASSISTANT COMMISSIONER OF INCOME TAX, BUSINESS CIRCLE-V, CHENNAI-600 034. (APPELLANT) (RESPONDENT) APPELLANT BY : MR. K.MEENAKSHISUNDARAM, ITP RESPONDENT BY : MRS.RUBY GEORGE, CIT & MR. S.DASGUPTA, JCIT DATE OF HEARING : 16 TH MAY, 2013 DATE OF PRONOUNCEMENT : 1 7 TH MAY, 2013 O R D E R PER CHALLA NAGENDRA PRASAD, JM : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-V III, CHENNAI DATED 27.06.2012 FOR THE ASSESSMENT YEAR 2 008-09. THE ONLY GRIEVANCE OF THE ASSESSEE IN THIS APPEAL IS THAT THE COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN SUSTA INING ADDITIONS MADE UNDER SECTION 68 OF THE ACT TOWARDS TRADE CREDITS AND UNSECURED LOANS. THE ASSESSEE ALSO CONT ENDS ITA NO.1704/MDS/2012 13 OF THE ACT. THE GROUNDS RAISED BY THE ASSESSEE AR E THUS REJECTED. 7. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON FRIDAY, THE 17 TH DAY OF MAY, 2013 AT CHENNAI. SD/- SD/ - ( N.S. SAINI ) (CHALLA NAGENDRA PRASAD) ACCOUNTANT MEMBER J UDICIAL MEMBER CHENNAI, DATED THE 17 TH MAY, 2013. SOMU COPY TO: (1) APPELLANT (4) CI T(A) (2) RESPONDENT (5) D.R. (3) CIT (6) G.F