{"id":52538,"date":"2025-04-05T10:21:09","date_gmt":"2025-04-05T04:51:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/v-bhaskaran-v-acit-2024116-itr-135-chennaitrib\/"},"modified":"2025-04-05T10:21:09","modified_gmt":"2025-04-05T04:51:09","slug":"v-bhaskaran-v-acit-2024116-itr-135-chennaitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/v-bhaskaran-v-acit-2024116-itr-135-chennaitrib\/","title":{"rendered":"V. Bhaskaran v. ACIT (2024)116 ITR 135 (Chennai)(Trib)"},"content":{"rendered":"<p>Tribunal held that considering the documents found in the course of search and seizure and explanations\u00a0 of the assessee, the Tribunal held that,\u00a0 fixed deposit receipts in name of wife\u00a0 hence addition is deleted. Amount spent on marriage based on estimate basis, addition is\u00a0 restricted to 60% per cent of estimated amount. No addition can be made on account of\u00a0 personal expenditure\u00a0 as no incriminating material is found. As regards rental payment\u00a0 the rent is estimated for\u00a0\u00a0 18 months. As regards payment of advance tax\u00a0 the assessee could not explain the source hence addition is affirmed.As regards overseas trip expenses and investment in benefit fund\u00a0 the assessee could not explain\u00a0 the source of investment hence the addition is justified.\u00a0\u00a0 Seized passbook is incriminating material and the assesseee could not explain the source\u00a0 the addition is justified As regards \u00a0payments towards transponder hire, purchase of allied equipment, uplinking facility, and telecom service provider there is no\u00a0 evidence of payment hence the\u00a0 addition is deleted. As regards\u00a0\u00a0 bills found in assessee\u2019s name\u00a0 the issue remanded for re-examination. As regards \u00a0imported car alleged received by gift which is\u00a0 denied by alleged gift giver. Matter remanded to determine real owner. As regards seizure of cash\u00a0 gold and silver article\u00a0 from premises of uncle\u00a0 no addition can be made in the assessment of the assesseee. Addition is deleted. \u00a0<em>(<\/em>.BP 1987-88 to 1997-98 up to September 24, 1996, 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69A : Unexplained money-Un explained expenditure-Search and Seizure-Fixed deposit receipts in name of wife-Addition is deleted-Amount spent on marriage-Addition on estimate basis-Restricted to 60% per cent of estimated amount-Personal expenditure-No incriminating material is found-Rental payment-Estimation  of rent for 18 months-Payment of advance tax-Not able to explain the source-Addition is justified-Overseas Trip expenses and investment in benefit fund-Failure to show the source of investment-Addition is justified-Bank deposits-Seized passbook-Incriminating material-Addition is justified-Payments towards transponder hire, purchase of allied equipment, uplinking facility, and telecom service provider-No evidence of payment-addition is deleted-Bills found in Assessee\u2019s name remanded for re-examination-Imported car-Gift-Denied by alleged gift giver-Matter remanded to determine real owner-Seizure of cash  gold and silver article  from premises of uncle-Assessment is bad in law  [S. 132, 153C, 158BC] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-52538","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dFo","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=52538"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52538\/revisions"}],"predecessor-version":[{"id":52539,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52538\/revisions\/52539"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}