Madras HC Grants Final Chance in Rs. 214 Cr Income Tax Case

Anguraj Saravana Prabu Vs CIT (Madras High Court) Facts- The petitioner, Anguraj Saravana Prabu, engaged in the retail business of coconut coir, filed his income tax return for the assessment year 2018-19 declaring an income of Rs. 24,22,680. His case was selected for scrutiny on grounds of non-furnishing quantitative details and business expenses. The petitioner was issued notices to furnish documentary evidence but failed to respond or produce any documents. The Assessing Officer, therefore, passed an order under Section 144 read with Section 144B of the Income Tax Act making an addition...