M SOUGOUMARIN Vs. ASSISTANT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) These appeals are against an order dated 31.3.2016 passed by the Income Tax Appellate Tribunal 'B' Bench, Chennai, allowing the appeals, being I.T.A.Nos.262 and 263/Mds/2015, in relation to the assessment years 2008-2009 and 2012-2013 filed by the respondent Revenue and restoring the penalty imposed by the Assessing Officer under Sections 271E and 271D of the Income Tax Act, 1961 (hereinafter referred to as the IT Act).

(2.) The facts giving rise to these appeals are very briefly enumerated hereinafter.

(3.) It appears that a survey under Section 133A of the IT Act was conducted in the case of Mr.A.Kannan, Proprietor, Vadamalayan Finance, No.C-4, II Floor, Thiyagaraja Apartment, First Main Road, Thanthai Periyar Nagar, Pondicherry 605 005, on 8.9.2011 and books of accounts and supporting documents were impounded under Section 133A(3) of the IT Act.