Taxpayer Fined ₹10,000 for Absence, Gift & Gold Sale Case Sent Back to CIT(A)

Jayabalan Kumaresan Vs ITO (ITAT Chennai) Income Tax Appellate Tribunal (ITAT), Chennai bench, has imposed a cost of ₹10,000 on taxpayer Jayabalan Kumaresan for failing to appear during appeal hearings before the Commissioner of Income Tax (Appeals) [CIT(A)]. The tribunal has also remitted the case concerning additions made by the Assessing Officer (AO) related to cash received from the sale of gold and as gifts back to the CIT(A) for fresh adjudication. The ITAT’s decision came in response to the taxpayer’s appeal against an ex-parte order passed by the CIT(A). The case pertains...