V. Churchil & VCV Builders Private Limited vs. ACIT, Central Circle -2, Madurai

Parties Involved

Facts Summary

The case involves appeals filed by V. Churchil and VCV Builders Private Limited against the orders of the Commissioner of Income Tax (Appeals) for various assessment years. The appeals arise from a search conducted on 30.10.2012 at the business and residential premises of the assessees. The search led to the initiation of proceedings under section 153A of the Income-Tax Act, 1961. The assessees raised several grounds of appeal challenging the orders, primarily concerning the quantification of assessable income from various real estate projects, the methodology adopted by the Assessing Officer, and the levy of interest. The assessees argued that the Assessing Officer made additions based on surmises and conjectures without proper evidence.…

Legal Issues

• 1. Quantification of assessable income from various projects
• 2. Validity of search assessment under Section 153A
• 3. Levy of interest under sections 234A, 234B, and 234C

Judgment Outcome

Decided in favour of Partly Assessee.

Precedents Relied Upon

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