PONMANI SURESH Vs. DEPUTY COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The Tax Case Appeal is filed by the appellant/assessee as against the order of the Income Tax Appellate Tribunal, Chennai Bench 'D' dated 21.09.2017 passed in ITA.No.1011/Mds/2017 relating to the Assessment Year 2012-13.

(2.) The facts of this case is that the assessee declared a total income of Rs.3,08,330/- in the original return of income filed on 30.05.2012 for the assessment year 2012-13. Subsequently, as a result of enquiry conducted by I & CI Unit of the Income Tax Department, Chennai, the assessee had filed a revised return of income on 31.03.2014 with a total income of Rs.19,14,060/-. The case was selected for scrutiny and notice under Section 143(2) of the Income Tax Act, 1961 [hereinafter called as 'Act'] dated 04.09.2014 was served on the assessee. Subsequently, notice under section 142(1) dated 12.12.2014 seeking details and documents, was also served on the assessee. After careful examination of the case, the assessment order was passed computing the taxable income assessed as Rs.7,29,75,896/-.

(3.) Aggrieved by the said order of the Assessing Officer/Deputy Commissioner of Income Tax, Non Corporate Circle-2, Chennai, the appellant/assessee filed appeal before the Commissioner of Income Tax (Appeals)-1.