COMMISSIONER OF INCOME TAX, TIRUNELVELI Vs. PADMAVATHI

JUDGEMENT

(1.) This appeal, at the instance of the revenue filed under Section 260A of the Income Tax Act, 1961 (the 'Act' for brevity), is directed against the order passed by the Income Tax Appellate Tribunal, Madras 'C' Bench, Chennai in ITA No.1306/Chny/2019 dated 02.12.2019 for the Assessment Year 2014-2015.

(2.) The following Substantial Questions of Law were raised for consideration:

(3.) The assessee is an individual and a partner in a firm under the name and style of Sri Ram Associates. She filed her return of income on 27.10.2015 admitting a total income of Rs.2,58,110/-. The return was processed under Section 143(1) of the Act. Subsequently, the case was selected under Computer Aided Scrutiny Selection [for brevity 'CASS'] 'Limited Scrutiny' with regard to a purchase of a property by the assessee. The assessing officer after hearing the assessee, verifying the source of funds completed the assessment by order dated 28.12.2016 under Section 143(3) of the Act and made an addition of Rs.8,00,000/-.