2019 (4) TMI 1584

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....umar Assisted by Ms.Sree Lakshmi Valli For the Respondent : Mr.M.Swaminathan Assisted by Ms.V.Pushpa and Ms.S.Premalatha Senior Standing Counsel JUDGMENT DR.VINEET KOTHARI, J. The Assessee has filed this Appeal raising the purported Substantial Questions of Law arising from the order of the learned Income Tax Appellate Tribunal dated 04.12.2008 in dismissing the Appeal filed by the Ass....

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.... which is quoted below for ready reference: "1. I was the Managing Director of M/s.Kathiravan Papers & Boards (P) Ltd, the petitioner herein and as such I am conversant with the facts of the case leading to the present petition. 2. The Petitioner Company was promoted by me, the other major share holders being my sons and wife. The Company commenced its operations of manufacture o....

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....ence. The Company could not re-pay the loan and not even the interest Component. Therefore TIIC initiated proceedings for recovery. I had no resources to defend and hence TIIC, took over the entire properties of the Company and sold it by Public auction on during 1994. Even after that more than 54 Lakhs was due to TIIC as per the lawyer's notice dated 20.08.97. 6. I am a chronic Cardi....

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.... fee I had to apply for a PAN card, which I did and obtained. In the meanwhile, during April 2007, again my cardiac problems became severe and I had to be hospitalised in the Sree Chitrai Thirunal Institute of Medical Sciences & Technology in Trivandrum. The appeal papers were prepared during June 2007 and submitted before the Hon'ble Tribunal on the 11 the June 2007." 4. Having heard the l....