Appeal Details
Counselvise Citation
[2019] 116 COUNSELVISE.COM (IT) 2735 (ITAT-CHENNAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
2 month(s) 18 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
29-08-2019
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
A
Assessment Year
2011-2012
Appeal Filed On
10-06-2019
Judgement Text
, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI , , BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ IN I.T.A.NOS.1804 TO 1808/CHNY/2019 ( / ASSESSMENT YEARS :2010-11 TO 2014-15 SHRI VASANTHA VIKAS , NO.43A, KALIAMMAN KOVIL STREET, SIVAKASI, VIRUDHUNAGAR DISTRICT 626 123 V. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1, MADURAI. PAN: A DGPV6980K ( /PETITIONER) ( /RESPONDENT) /PETITIONER BY : SHRI B. RAMAKRISHNAN, FCA /RESPONDENT BY : MR.S.BHARATH, CIT D.R /DATE OF HEARING : 29.08.2019 /DATE OF PRONOUNCEMENT : 29.08.2019 / O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER : THESE FIVE APPEALS ARE FILED BY THE ASSESSEE AGAINS T THE SEPARATE ORDERS OF THE COMMISSIONER OF INCOME-TAX ( APPEALS)-19, CHENNAI IN APPEAL NO.139/16-17 DATED 00.04.2019 FOR ASSE SSMENT YEAR 2010-11, IN APPEAL NO.140/16-17 DATED 00.04.2019 FOR ASSE SSMENT YEAR 2011-12, IN APPEAL NO.141/16-17 DATED 02.04.2019 FOR ASSE SSMENT YEAR 2012-13, IN APPEAL NO.142/16-17 DATED 02.04.2019 FOR ASSE SSMENT YEAR 2013-14, & IN APPEAL NO.143/16-17 DATED 00.04.2019 FOR ASSESSMENT YEAR 2014-15. 2 ITA. NOS.1804 TO 1808/CHNY/2019 2. SHRI B. RAMAKRISHNAN REPRESENTED ON BEHALF OF T HE ASSESSEE AND MS. M. SUBASHRI REPRESENTED ON BEHALF OF THE REVENU E. 3. IT WAS SUBMITTED BY LD.AR THAT THE ASSESSEE IS AN INDIVIDUAL, WHO IS A PARTNER AND DIRECTOR OF THE VARIOUS COMPANIES AND FIRMS, WHICH ARE IN THE BUSINESS OF MANUFACTURE AND SELLING FIRE-WORKS. THERE WAS A SEARCH ON THE GROUP OF COMPANIES AND FIRMS, AND THE PARTNERS BEING SHRI V.ARUMUGASAMY GROUP ON 09.07.2013. AS A CONSEQUENC E OF SEARCH, ALL THE ASSESSEES IN THE GROUP FILED PETITION BEFORE TH E SETTLEMENT COMMISSION. ON ACCOUNT OF PECULIAR STATE OF AFFAIR S IN THE CASE OF ASSESSEE, THE SETTLEMENT COMMISSION REJECTED THE AP PLICATION OF ASSESSEE FOR SETTLEMENT VIDE ORDER DATED 05.04.2016. IT WAS SUBMITTED THAT FOR ASSESSMENT YEARS 2010-11 & 2011-12, THE ISSUE WAS I N RESPECT OF SAVINGS BANK ACCOUNT MAINTAINED BY THE ASSESSEE WITH INDIAN BANK, SIVAKASI BRANCH, AT NEW ROAD, BRANCH CODE NO.1484 BEING ACCO UNT NO. 881752106. IT WAS A FURTHER SUBMISSION THAT ADMITTEDLY THIS BA NK ACCOUNT WAS AN UNDISCLOSED BANK ACCOUNT. IT WAS SUBMITTED THAT THE BANK MANAGER OF THE SAID BANK ALSO KNEW THAT THE SAID BANK ACCOUNT WAS AN UNDISCLOSED BANK ACCOUNT AND CONSEQUENTLY, THE BANK MANAGER USED THE SAID ACCOUNT OF THE ASSESSEE FOR CERTAIN UNACCOUNTED TRANSACTIONS OF OT HER CUSTOMERS OF SAID BRANCH. IT WAS A SUBMISSION THAT FOR ASSESSMENT YE AR 2010-11, THE TOTAL CREDIT IN THE SAID BANK ACCOUNT WAS TO AN EXTENT OF RS.2,68,88,176/-. AS 3 ITA. NOS.1804 TO 1808/CHNY/2019 AGAINST THIS, THE CREDITS BELONGING TO THE ASSESSEE WAS ONLY IN RESPECT OF CREDITS OF RS.32,88,176/- AND 11 CREDITS TOTALING T O RS.2.36 CRORES IN THE SAID BANK ACCOUNT WERE NOT RELATING TO THE ASSESSEE , BUT PERTAINED TO DIFFERENT CUSTOMERS, OPERATED BY THE BANK MANAGER. IN RESPECT OF ASSESSMENT YEAR 2011-12, THE TOTAL CREDIT IN THE SA ID ACCOUNT WAS TO AN EXTENT OF RS.4,01,43,869/-. AS AGAINST THIS, THE C REDITS BELONGING TO THE ASSESSEE WAS ONLY OF RS.2,59,70,330/- AND THE BALAN CE OF RS.1,41,73,539/- RELATED TO TRANSACTION OF OTHERS, OPERATED BY THE BANK MANAGER. IT WAS SUBMITTED THAT BEFORE THE SETTLEMEN T COMMISSION, THE ASSESSEE HAD STATED THESE FACTS AND HAD ADMITTED TH E GROSS PROFIT ADDITION OF 24% ON THE SAID TRANSACTIONS RELATING TO THE ASS ESSEE, BUT THE SETTLEMENT COMMISSION HAD REJECTED THE ASSESSEES A PPLICATION ON THE GROUND THAT ASSESSEE WAS UNABLE TO PROVE THAT THE O THER TRANSACTIONS IN THE BANK ACCOUNT HAD BEEN DONE BY THE MANAGER OF TH E BRANCH. THE LD.AR FURTHER DREW OUR ATTENTION TO PAGE NOS.101 TO 102 OF THE PAPER BOOK, WHICH WAS A COPY OF STATEMENT RECORDED U/S.13 1 OF THE ACT BY THE DY.C.I.T FROM THE INDIAN BANK, ASSISTANT MANAGER, S HRI PARBHAT KUMAR GUPTA. THE STATEMENT RECORDED IS EXTRACTED HEREIN BELOW:- SWORN STATEMENT RECORDED (IN THE CASE OF SHRI A.VAS ANTHAVIKA$) FROM SHRI PARBHAT KUMAR GUPTA, AGED 31 YEARS,WORKING A S ASSISTANT MANAGER IN INDIAN BANK AT SIVAKASI BRANCH, TAMIL NADU BY SMT. ARUNA BAGAVATHY, IRS DEPUTY COMMISSIQNER OF INCOME-TAX, C ENTRAL CIRCLE -1, MADURAI U/S.131 OF THE I.T. ACT, 1961 ON 26.05.20 16. SD/- SD/- OATH ADMINISTERED OATH TAKEN 4 ITA. NOS.1804 TO 1808/CHNY/2019 Q.1. PLEASE INTRODUCE YOURSELF . ANS. I AM SHRI PARBHAT KUMAR GUPTA, SLO ASHOK KUMAR, AG ED 31 YEARS, WORKING AS ASSISTANT MANAGER IN INDIAN BANK, SIVAKASI BRAN CH, TAMIL NADU. I HAVE BEEN WORKING IN THIS BRANCH SINCE AUGUST, 2015. Q.2 . ON 30 TH & 31 ST OF MARCH, 2010, RS.2,48,88,176/. WAS CREDITED AS 'BATCH CREDIT' , IN THE ACCOUNT NO.881752106 OF SHRI A VA SANTHAVIKAS WITH INDIAN BANK, SIVAKASI. SHRI VASANTHA VIKAS HAS STATED BEFO RE ME THAT THE CREDLTS AND DEBITS DO NOT RELATE TO HIM OR HIS BUSINESS. HE C LAIMED THAT THE DEBITS AND CREDITS WERE MADE BY THE BANK WITHOUT HIS KNOWLEDGE , FOR BOOSTING ADVANCES AND DEPOSITS FIGURES. WHAT DO YOU SAY ABOUT THIS? KINDLY PROVIDE US THE UNDERLYING VOUCHERS ON THE BASIS OF WHICH THE BATCH CREDITS WERE MADE AND EXPLAIN US HOW THIS WAS DONE. ANS . (I) ON 30TH OF MARCH 2010 SHRI VASANTHAVIKAS HAS DEPOSITED BULK NUMBER OF CLEARING CHEQUES TOTAL AMOUNTING TO RS.32,88,17 6/- FOR WHICH I AM PRODUCING COMPUTER SCREENSHOT AND COPY OF VOUCHER . ON THE SAME DAY CASH OF RS.20,00,000/- WAS WITHDRAWN AND I AM PRODUCING COPY OF VOUCHER BEARING THE SIGNATURE OF SHRI VASANTHAVIKAS AT THE BACK OF THE VOUCHER. (II) WITH REGARD TO TRANSACTIONS ON 31.03.2010, I S TAND BY THE REPLY OF MY BRANCH MANAGER FURNISHED VIDE LETTER DATED 28.03.2 016 AS UNDER:- 'ON 31.03.2010 SEVERAL CREDITS AMOUNTING TO RS.236. 00 LAKHS WERE CREDITED TO THE SUBJECT ACCOUNT AND REVERSED BY WAY OF DEBITS O N 03.04.2010. ON VERIFICTION OF THE RECORDS, WE INFER THAT THESE TWO TRANSACTIONS ON 31.03.2010 AND 03.04.2010 AMOUNTING TO RS.236.00 LAKHS EACH W ERE NOT RELATING TO MR A. VASANTHAVIKAS, BUT TO DIFFERENT CUSTOMERS. ON PERU SAL OF THE STATEMENT OF ACCOUNTS OF THESE CUSTOMERS WE FIND THAT THE SUMS W ERE DEBITED ON 31.03.2010 AND CREDITED BACK TO THEIR ACCOUNTS ON 03.04.2010. ' Q.3. IN THE ABOVE REPLY, YOU HAVE STATED THAT THE TRANS ACTIONS ON 31 ST MARCH AND 3 RD APRIL AMOUNTING TO RS.236.00 LAKHS DO NOT BELONG TO SHRL A.VASANTHAVIKAS BUT TO DIFFERENT CUSTOMERS AND THA T THE SUMS WERE DEBITED ON 5 ITA. NOS.1804 TO 1808/CHNY/2019 31 ST MARCH 2010 AND CREDITED BACK TO THEIR RESPECTIVE ACCOUNTS ON 3RD APRIL 2010. YOU HAVE ALSO PROVIDED US THE COPIES OF STATE MENT OF ACCOUNTS OF THE 9 CUSTOMERS. HOWEVER, IT 15 NOTICED FROM THE ACCOUNT STATEMENT OF SHRI VASANTHAVIKAS AND THE ACCOUNT STATEMENT OF ABOVE 9 CUSTOMERS THAT THE BREAK-UP AMOUNTS CREDITED ON 31- MARCH 2010 DO NOT EXACTLY MATCH WITH THE BREAK-UP DEBITS RE, THE REPLY GIVEN BY THE BRANCH DOES NOT FULLY EXPLAIN THE ENTRIES IN THE ACCOUNT STATEMENT. KINDLY EXPLAIN WI TH FULL BREAK-UP DETAILS AND NECESSARY EVIDENCE. ANS : I AM NOT AWARE OF WHAT EXACTLY HAPPENED AT THAT TIME. HOWEVER, AFTER VERIFYING THE VOUCHER REPORTS FOR 31 ST MARCH 2010 AND 3 RD APRIL 2010 AND IDENTIFYING THE JOURNAL NUMBER OF EACH ENTRY, I WILL CLARIFY THE IS SUE AT THE EARLIEST WITH THE PERMISSION OF ZONAL OFFICE. Q.4. SHRL A.VASANTHAVIKAS HAS STATED CREDITS MADE ON 17. 08.2010 AS 'VOUCHER TRANSFER' AGGREGATING RS.1,41,73,539/- AND DEBITS ON 17.08.2010 AND 18.08.2010 'BY WAY OF TRANSFER AND WITHDRAWAL' AGGREGATING RS. 1,41,73,539/- WERE MADE BY THE BANK WITHOUT HIS KN OWLEDGE. WHAT DO YOU HAVE TO SAY ABOUT THIS? KINDLY PROVIDE US THE UNDE RLYING VOUCHERS ON THE BASIS OF WHICH THE 'VOUCHER TRANSFER' AND 'TRANSFE R AND WITHDRAWAL' WERE MADE AND EXPLAIN US HOW THIS WAS DONE. ANS. AS PER THE ACCOUNT STATEMENT AND VOUCHERS RELATING TO SHRI VASANTHAVIKAS, ON 17.08.2010 HUNDREDS OF RIPS (REINVESTMENT PLAN) IN THE NAMES OF VARIOUS PERSONS WERE CLOSED AND CREDITED TO HIS ACCOUNT. H UNDREDS OF NEW RIPS WERE ALSO OPENED ON THE SAME DATE. I AM PRODUCING THE C OPIES OF CONSOLIDATED TRANSFER VOUCHERS FOR CLOSING RIPS AND OPENING RIP S. Q.5 THE CONSOLIDATED TRANSFER VOUCHERS DO NOT CONT AIN THE COMPLETE DETAILS. THEREFORE, THE COMPLETE DETAILS RELATING T O THE OLD AND NEW RIPS INCLUDING THE DETAILS OF PERSON(S) FROM WHOM T HE MONEY HAS COME AND THE PERSON(S) TO WHOSE ACCOUNT THE MONEY HAS BEEN TRANSFERRED MAY BE PROVIDED BEFORE 31.05.2016. 6 ITA. NOS.1804 TO 1808/CHNY/2019 ANS: THE DETAILS WILL BE PROVIDED AFTER GETTING PERMISSI ON OF THE ZONAL OFFICE. Q.6 DO YOU WITH TO SAY ANYTHING ELSE? ANS. NOTHING . IT WAS SUBMITTED BY THE LD.AR THAT THERE WAS A LETT ER OF BANK MANAGER, DATED 28.03.2016, A COPY OF WHICH WAS NOT AVAILABLE WITH THE ASSESSEE, WHICH RELATED TO ABOVE EXTRACTED PORTION IN THE SAID STAT EMENT IN REPLY TO QUESTION NO.2. IT WAS SUBMITTED THAT IN THE SAID LETTER IT HAS BEEN ADMITTED BY THE MANAGER THAT FOR THE YEAR ENDED 31.03.2010, SEVERAL CREDITS AMOUNTS TO RS.236 LAKHS WERE REVERSED BY WAY OF DEBITS ON 03.0 4.2010 AND SUCH TRANSACTIONS DID NOT RELATE TO THE ASSESSEE. SIMILA RLY, ALSO IN QN.NO.4 IN RESPECT OF RS.1.41 CRORES. IT WAS SUBMITTED THAT TH IS EVIDENCE WAS AVAILABLE WITH THE REVENUE, WHEN THE SETTLEMENT APPLICATION W AS EVEN REJECTED BY THE SETTLEMENT COMMISSION ON 05.04.2016. IT WAS SUBMITT ED THAT AS IT HAS BEEN ADMITTED BY THE BRANCH MANAGER THAT THE TRANSACTION S DID NOT BELONG TO THE ASSESSEE, THE ADDITION REPRESENTING THE SAME WAS LI ABLE TO BE DELETED. IT WAS A PRAYER IN RESPECT OF THE TRANSACTION RELATING TO THE ASSESSEE FOR THE RELEVANT TWO ASSESSMENT YEARS, THAT GP RATE OF 24% MAY BE AT THE WORST BE CONFIRMED. 7 ITA. NOS.1804 TO 1808/CHNY/2019 4. IN REPLY, LD.DR VEHEMENTLY SUPPORTED THE ORDER O F THE ASSESSING OFFICER AND THE ORDER OF THE LD.CIT(A). LD.DR SUBMITTED TH AT THE TRANSACTIONS IN THE SAID BANK ACCOUNT HAVING CLEARLY BEEN FOUND AS UNAC COUNTED TRANSACTIONS, THE CAPITAL REQUIRED FOR THE SAID TRANSACTION WAS LIABL E TO BE ADDED. IT WAS SUBMITTED THAT ON AN ESTIMATE BASIS, THE GP RATE BE FIXED AT 30% OF THE UNACCOUNTED TRANSACTIONS BEING OF RS.32,88,176/- FO R ASSESSMENT YEAR 2010- 11 AND RS.2,59,70,330/- FOR THE ASSESSMENT YEAR 201 1-12. 5. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. A PERUSAL OF THE STATEMENT RECORDED BY T HE DCIT U/S.131 OF THE ACT FROM THE ASSISTANT MANAGER OF INDIAN BANK, SIVAKASI BRANCH ON 26.05.2016 CLEARLY SHOWS FROM THE LETTER OF THE BANK MANGER DA TED 28.03.2016 ADMITTING TO THE TRANSACTIONS HAVE BEEN DONE BY THE BANK MANA GER IN THE ASSESSEES ACCOUNT AND NOT RELATING TO THE ASSESSEE STANDS CLE ARLY ESTABLISHED. WE REFUSE TO GO INTO THE ISSUE AS TO WHY THE REVENUE DID NOT PRODUCE THE SAID LETTER BEFORE THE SETTLEMENT COMMISSION AS WE ARE NOT AN A PPELLATE AUTHORITY IN RESPECT OF PROCEEDINGS FROM THE HONBLE SETTLEMENT COMMISSION. HOWEVER, THE FACT THAT BRANCH MANAGER HAS CATEGORICALLY ADMI TTED IN HIS LETTER AND THE SAME HAS ALSO BEEN REITERATED BY THE ASSISTANT MANA GER IN HIS STATEMENT RECORDED U/S.131 OF THE ACT BY THE DCIT, WE ARE INC LINED TO ACCEPT THE SAME AND CONSEQUENTLY THE ASSESSING OFFICER IS DIRECTED TO DELETE THE ADDITION 8 ITA. NOS.1804 TO 1808/CHNY/2019 REPRESENTING THE CREDITS TO AN EXTENT OF RS.2,36,0 0,000/- FOR ASSESSMENT YEAR 2010-11 AND RS.1,41,73,539/- FOR THE ASSESSMENT YEA R 2011-12 IN THE ASSESSMENT OF THE ASSESSEE. IN RESP ECT OF BALANCE CREDITS, ADMITTEDLY WHAT IS LIABLE TO BE ADDED ONLY PEAK CRE DIT AS THIS IS AN UNACCOUNTED BANK ACCOUNT AND A PERUSAL OF THE BANK ACCOUNT CLEARLY SHOWS THAT THERE ARE WITHDRAWALS AND DEPOSITS. HOWEVER, IT IS NOTICED THAT THE ASSESSEE HAS FILED AN APPLICATION ADMITTING ITS GP FOR THE PURPOSE OF ADDITION BEFORE THE HONBLE SETTLEMENT COMMISSION AT 24%. T HE ASSESSEE HAS NOT SHOWN ANY ADDITION HAVING BEEN OFFERED ON ACCOUNT O F THE INITIAL CAPITAL. CONSEQUENTLY, WE ARE OF THE VIEW THAT THE INTEREST OF JUSTICE WOULD BE SERVED, IF THE GP RATE IS ADOPTED AT 30% IN RESPECT OF UNAC COUNTED CREDITS IN THE INDIAN BANK ACCOUNT, WHICH IS THE UNACCOUNTED BANK ACCOUNT AND HAS BEEN ACCEPTED BY THE ASSESSEE. IN THESE CIRCUMSTANCES, THE ADDITION MADE BY THE ASSESSING OFFICER IN RESPECT OF THE SAID BANK ACCOU NT STANDS MODIFIED AND THE ASSESSING OFFICER IS DIRECTED TO RESTRICT THE ADDIT ION TO 30% REPRESENTING THE GP AND INITIAL CAPITAL REQUIRED IN RESPECT OF THE CREDIT OF RS.32,88,176/- ACCEPTED BY THE ASSESSEE FOR THE ASSESSMENT YEAR 20 10-11 AND 30% AS GP IN RESPECT OF THE CREDITS ACCEPTED BY THE ASSESSEE TO AN EXTENT OF RS.2,59,70,330/- FOR THE ASSESSMENT YEAR 2011-12. 6. IN THE RESULT, THE APPEALS FILED BY THE ASSESSE E FOR THE ASSESSMENT YEARS 2010-11 & 2011-12 STANDS PARTLY ALLOWED. 9 ITA. NOS.1804 TO 1808/CHNY/2019 7. IN RESPECT OF ASSESSMENT YEARS 2012-13, 2013-14 , AND 2014-15, IT WAS SUBMITTED BY LD.AR THAT THE ADDITIONS IN THE SAID A SSESSMENT YEARS REPRESENTED THE UNEXPLAINED EXPENDITURE. IT WAS SUB MITTED THAT THE SAID UNEXPLAINED EXPENDITURE ADMITTEDLY HAD BEEN INCURRE D BY THE ASSESSEE OUT OF THE SAID UNACCOUNTED INCOME FOR THE ASSESSMENT YEAR S 2010-11 & 2011-12. THE SAID INCOME WAS AVAILABLE TO THE ASSESSEE FOR M EETING THE EXPENSES FOR THE ASSESSMENT YEARS 2012-13, 2013-14 & 2014-15. I T WAS SUBMITTED THAT FOR ASSESSMENT YEAR 2012-13, THE UNEXPLAINED EXPENDITUR ES WERE AN AMOUNT OF RS.1,50,000/- ON ACCOUNT OF FOREIGN TRAVEL EXPENSES , AN AMOUNT OF RS.14,60,960/- PAID TO M/S.VADIVEL PYROTECH PVT LTD AND OF RS.13,900/- PAID TO SHRI T.MURUGANANDHAM FOR PURCHASE OF LAND. IT WA S SUBMITTED THAT FOR THE ASSESSMENT YEAR 2013-14, THE ADDITIONS WERE RS.1/- LAKH TOWARDS FOREIGN TRAVEL EXPENSES, AND RS.35 LAKHS INVESTED IN HDFC L IFE INSURANCE. IT WAS SUBMITTED THAT FOR ASSESSMENT YEAR 2014-15, ADDITIO NS WERE RS.1/- LAKH AS UNEXPLAINED EXPENDITURE U/S.69 OF THE ACT FOR FOREI GN TRAVEL EXPENSES, AND RS.27,50,000/- INVESTED IN HDFC LIFE INSURANCE. IT WAS SUBMITTED THAT THE ASSESSEE MAY BE GRANTED SET OFF OF INCOME FOR THE A SSESSMENT YEARS 2010-11 & 2011-12 AGAINST THE UNEXPLAINED EXPENDITURE ADDED BY INVOKING THE SECTION 69C OF THE ACT FOR THE ASSESSMENT YEARS 2012-13, 20 13-14 & 2014-15. 10 ITA. NOS.1804 TO 1808/CHNY/2019 8. IN REPLY, THE LD.DR VEHEMENTLY SUPPORTED THE OR DERS OF THE ASSESSING OFFICER AND THE LD.CIT(A). 9. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. ADMITTEDLY, GP ADDITION OF 30% IN RESPEC T OF UNEXPLAINED CREDITS ACCEPTED AND APPEARING IN THE UNACCOUNTED BANK ACCO UNT WITH INDIAN BANK SIVAKASI, HAS BEEN DIRECTED FOR THE ASSESSMENT YEAR S 2010-11 & 2011-12. THIS BEING SO, ADMITTEDLY THERE WOULD BE INCOME AVAILABL E TO THE ASSESSEE ON ACCOUNT OF THE SAID GP ADDITION. THIS INCOME WOULD VERY MUCH BE AVAILABLE TO THE ASSESSEE FOR THE PURPOSE OF SET OFF OF THE UNEX PLAINED EXPENSES WHICH HAVE BEEN ADDED FOR THE ASSESSMENT YEARS 2012-13, 2 013-14 & 2014-15. THIS BEING SO, THE ASSESSING OFFICER IS DIRECTED TO GRANT ASSESSEE THE BENEFIT OF SET OFF OF THE UNDISCLOSED INCOME ADDED FOR THE ASSESSMENT YEARS 2010-11 & 2011-12 AS SOURCE FOR THE UNEXPLAINED EXPENDITURE S ADDED BY INVOKING THE PROVISIONS OF SECTIONS 69 & 69C OF THE ACT FOR THE ASSESSMENT YEARS 2012-13 2013-14 & 2014-15. 10. IN THE RESULT, THE APPEALS FILED BY THE ASSESS EE FOR THE ASSESSMENT YEARS 2012-13, 2013-14 & 2014-15 STANDS PARTLY ALLOWED. 11 ITA. NOS.1804 TO 1808/CHNY/2019 11. TO SUM UP, ALL THE APPEALS FILED BY THE ASSESS EE FOR THE ASSESSMENT YEARS 2010-11, 2011-12, 2012-13 2013-14 & 2014-15 A RE PARTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AFTER CONCLUSIO N OF HEARING ON 29TH AUGUST, 2019 AT CHENNAI. SD/- SD/- ( ) (S. JAYARAMAN) /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) /JUDICIAL MEMBER / CHENNAI, /DATED, THE 29TH AUGUST, 2019 K.S.SUNDARAM /COPY TO: 1. /PETITIONER 2. /RESPONDENT 3. ( ) /CIT(A) 4. /CIT, 5. /DR 6. /GF.
