ITAT Chennai Orders De Novo Examination in Search Case Involving ₹200+ Crore Notings

Periyasamy Anbunathan Vs DCIT (ITAT Chennai) Protective Additions Set Aside After 153C Assessments Quashed; ITAT Chennai Orders De Novo Examination in Search Case Involving ₹200+ Crore Notings The Chennai Bench of the ITAT passed a composite order disposing of multiple appeals and cross-objections for AYs 2014-15 to 2017-18 in the case of Periyasamy Anbunathan, arising out of search proceedings under section 132. The appeals involved protective additions exceeding ₹200 crore, alleged unaccounted finance/commission income, investment in property, and cash found during search. At the outset,...