Survey-Based Additions Set Aside Due to Lack of Effective Hearing

Sri Senthil Murugan Finance Vs ITO (ITAT Chennai) Survey-Based Reassessment and Ex-parte CIT(A) Order Set Aside with Cost – Matter Remanded The Chennai Bench of the Income Tax Appellate Tribunal considered an appeal by a partnership firm against an order passed under section 143(3) read with section 147 for AY 2013–14. Reassessment was initiated on the basis of a survey admission by one of the partners, alleging unaccounted investment in the firm. The Assessing Officer made substantial additions towards undisclosed cash credits under section 69 and business income, resulting in an assessed...