Tamil Nadu - Chennai   

Appeals against orders on Jaya Publications admitted

CHENNAI: The Madras High Court on Wednesday admitted 21 appeals by the Income-Tax Department challenging the orders of the Income-Tax Appellate Tribunal (ITAT) on the returns filed by Jaya Publications for assessment years starting from 1991-92 to 1999-2000.

The department submitted that the partnership firm had shown income of Rs.13.75 crore, agricultural income Rs.60.82 lakh, under the guise of purchases Rs.1.65 crore and receivables Rs.70.19 lakh, unexplained deposits in banks to the tune of Rs.58.24 lakh and unexplained expenditure of Rs.2.59 crore.

The department conducted an enquiry and found that no such deposits were made.

The publications appealed before the Commissioner of Income-Tax (CIT) (Appeals). The Commissioner allowed the appeals and said only 1.5 per cent of the total amount assessed by the department as income could be treated so.

The publications and the department filed appeals before the ITAT, which confirmed the order of the CIT (Appeals). Against this, the department has filed appeals before the High Court.

Additional Solicitor General M. Ravindran and Assistant Solicitor-General P.Wilson submitted details of the claims made by the assessee and the department and argued that the tribunal had committed an error in accepting her claim.

A Bench, comprising Justices K. Raviraja Pandian and P.P.S. Janarthana Raja, has posted the matter for hearing after summer vacation.

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