P.V. Ramachandran v. Income-tax Officer, Salary Ward-V(1), Chennai
[Citation -2016-LL-0916-100]
| Citation | 2016-LL-0916-100 |
|---|---|
| Appellant Name | P.V. Ramachandran |
| Respondent Name | Income-tax Officer, Salary Ward-V(1), Chennai |
| Court | ITAT-Chennai |
| Relevant Act | Income-tax |
| Date of Order | 16/09/2016 |
| Assessment Year | 2010-11 |
| Judgment | View Judgment |
| Keyword Tags | sale of agricultural land • outstanding demand • recovery of tax • cash deposited • stay petition • savings bank |
| Bot Summary: | PAN: AEPPR73 45 E Applicant by : Ms.Jharna B.Harilal, C.A. Respondent by : Mr. Supriyo Pal, JCIT Da t e of h e ar in g : 16th September,2016 D at e of Pr on oun c em ent : 16th September, 2016 ORDER Per A. Mohan Alankamony, AM: The stay petition is filed by the assessee seeking stay from recovery of the outstanding demand of 8,55,660 -. At the outset, the learned Authorized Representative submitted that the reason for the addition of Rs.20.00 lakhs was due to the cash deposited in the savings bank account of the assessee. The learned Authorized Representative further submitted that the cash deposit was made out of the sale of agricultural land belonging to the assessee s father. The learned Authorized Representative also submitted the sale 2 S.P. No.198 Mds 2016 deed of the relevant transaction. The learned Departmental Representative opposed to the submissions of the learned Authorized Representative and requested that the stay may be declined. From the facts of the case, we are of the considered view that the assessee has an arguable case which may be decided in his favour. In the result, the stay petition filed by the assessee is allowed. |