COMMISSIONER OF INCOME TAX Vs. M.THIRUVENGADAM

JUDGEMENT

(1.) THE Revenue is on appeal as against the order of the Income Tax Appellate Tribunal, Madras 'A' Bench dated 04.09.2009 in ITA.No.29/Mds/2009 relating to the assessment year 2004-05 raising the following question of law:-

(2.) INSPITE of service of notice by this Court on 22.04.2010 to the assessee/respondent, there is no representation for the assessee and the assessee chose to remain exparte.

(3.) THE assessee is an individual, who derived income by acting as a Mediator between granite quarry owners and purchasers of granite. The assessee filed return of income for the assessment year 2004-05, offering total income of Rs.32,67,730/-. When the case was taken up for scrutiny and the notice was issued, it was found that the assessee had debited Rs.32,67,730/- towards service charges. The expenditure was incurred through vouchers, the maintenance of which, raised doubts about their genuineness. Thus, a survey under Section 133A of the Income Tax Act, 1961 (hereinafter called as the "Act") was conducted and statement was recorded through assessee.