2021 (4) TMI 405

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.....S.SIVAGNANAM, J This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act), is directed against the order dated 14.09.2017 made in I.T.(SS) A.No.4/Mds/2017 on the file of the Income Tax Appellate Tribunal, 'D' Bench, Chennai ('the Tribunal' for brevity) for the block assessment period 1997 to 2003. 2. The Revenue has raised the followi....

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....and Mr.M.P.Senthil Kumar, learned counsel for the respondent. 4. The Assessing Officer completed the block assessment vide order dated 31.12.2009. Aggrieved by the same, the assessee preferred appeal before the Commissioner of Income Tax (Appeals) - 2, Trichy [CIT(A)]. The CIT(A) took note of the order passed by the Tribunal in the earlier round in ITA.No.5/Mds/2007 dated 17.10.2008 and by extrac....

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....c have been used for acquiring other assets and if not found so, then corresponding credit should be given towards unaccounted money lending business. In the light of above facts, I hold that the Assessing Officer is directed to give credit for the sale value of jewellery at Rs. 96,23,565/- against the investment in money lending business." 6. On a reading of the above direction, it is clear that....