COMMISSIONER OF INCOME TAX Vs. KU. PA. KRISHNAN

JUDGEMENT

(1.) TAX Case Appeal No. 686 of 2005 is by the Revenue and T.C. No. 2 of 2009 is by the assessee against the order of the Income -tax Appellate Tribunal, Chennai "A" Bench, dated October 14, 2003, passed in I. T. (SS) A. No. 193/Mds/1997. As against the said order, the Revenue raises the following substantial questions of law for consideration :

(2.) WHETHER , in the facts and circumstances of the case, the Tribunal was right in ignoring the massive volume of evidence and findings based thereon put forward by the Assessing Officer ? Whether, in the facts and circumstances of the case, the Tribunal was right in deleting the additions made of deposits/properties in the name of benamis on the ground that such properties are not in the name of the assessee ?

(3.) WE have heard elaborately Mr. K. Ramasamy, learned senior standing counsel appearing for the Revenue in both the appeals and Mr. R. Venkataraman, learned senior counsel, for Mr. R. Sivakumar and Mr. A. Sathyaseelan, Learned Counsel, both appearing for the assessee in the respective appeals.