COMMISSIONER OF INCOME TAX Vs. M.P.RAMCHANDRAN

JUDGEMENT

(1.) THIS is an appeal under section 260 -A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal dated 17th December, 2007, dismissing the appellant's appeal IT(SS)A No.581/Mum/2003 pertaining to block period 1st April 1990 to 1st November, 2000. The Commissioner of Income Tax deleted an addition of Rs.6,58,52,694/ - and Rs.39,39,00,000/ - made by the Assessing Officer on account of royalty and on account of reimbursement of advertisement expenses.

(2.) THE appellant has sought to raise the following questions of law : -

(3.) ON 3rd November, 2000, a search and seizure action under section 132 was carried out at the respondent's residential premises and at the premises of Jyothy Laboratories. The Deputy Commissioner of Income Tax passed an order under section 158BC(c) read with section 143(3)(iii) of the Act. He determined the undisclosed income at Rs.46,22,52,694/ - i.e. the aggregate of the above sums towards royalty and advertisement expenses. It is the addition of these two sums that the respondent challenged before the Commissioner of Income Tax (Appeals).