{"id":53054,"date":"2018-06-07T11:02:38","date_gmt":"2018-06-07T05:32:38","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=53054"},"modified":"2018-06-07T11:02:38","modified_gmt":"2018-06-07T05:32:38","slug":"madras-hc-stays-i-t-notice-to-chidambaram-for-re-assessment","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/madras-hc-stays-i-t-notice-to-chidambaram-for-re-assessment","title":{"rendered":"Madras HC stays I-T notice to Chidambaram for re-assessment"},"content":{"rendered":"

Chennai:<\/b>The High Court today stayed the Income Tax Department’s notices issued to former finance minister P Chidambaram seeking reopening of assessment of his I-T returns for 2011-12 as it suspected that his income chargeable to tax had escaped assessment.<\/p>\n

\"\"<\/a>
\nJustice T S Sivagnanam granted the interim stay on the proceedings pursuant to the notices dated March 27, 2018 and May 23, 2018 issued by the Assistant Commissioner of Income Tax, Chennai, for re-opening the assessment, after hearing a petition by Chidambaram .<\/p>\n

Directing the I-T authorities to file their counter within six weeks, the Judge posted the matter to July 16 for further hearing.<\/p>\n

The judge had quashed similar I-T notices issued to Chidambaram pertaining to the assessment years 2009-10 and 2010-11 in November last year and January this year.<\/p>\n

When the current petition came up for hearing, Justice Sivagnanam noted that the factual issue was identical to that of the earlier assessment years.<\/p>\n

On the issue of reopening of assessment for 2009-10 and 2010-11, the court was convinced that it was not justified and had quashed the notices allowing the Congress leader’s plea.<\/p>\n

The juge today noted that though the I-T department had filed appeals against the orders quashing the notices, they had not yet been stayed by the division bench hearing them.<\/p>\n

“Therefore this court is of the view that the present impugned proceedings shall remain stayed till the department obtained orders from the first bench, hearing the appeals,” Justice Sivagnanam said.<\/p>\n

Chidambaram in his petition submitted that he had been selling raw coffee grown in his estate in Karnataka without curing and has been claiming exemption of the sale proceeds as agricultural income.<\/p>\n

Accordingly, for the assessment year 2011-12, he had claimed exemption of Rs 43.37 lakh as agricultural income under section 10(1) of Income Tax Act.<\/p>\n

However, the I-T department issued a notice dated March 27, 2018 under section 148 of the Income Tax Act stating that it had reason to believe that income chargeable to tax for the AY 2011-12 had escaped assessment.<\/p>\n

After a communication by his Charted Accountant, the department by a letter dated May 23 last gave the reasons for the reassessment, he said.<\/p>\n

Contending that the reassessment notice was illegal and without jurisdiction, Chidambarm prayed the court to quash it.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chennai:The High Court today stayed the Income Tax Department’s notices issued to former finance minister P Chidambaram seeking reopening of assessment of his I-T returns for 2011-12 as it suspected that his income chargeable to tax had escaped assessment. Justice T S Sivagnanam granted the interim stay on the proceedings pursuant to the notices dated […]<\/p>\n","protected":false},"author":1,"featured_media":52956,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1954,1],"tags":[31987,5681,42752],"class_list":["post-53054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-high-profile-cases","category-top-law-news","tag-featured","tag-justice-t-s-sivagnanam","tag-p-chidambarm"],"yoast_head":"\nMadras HC stays I-T notice to Chidambaram for re-assessment - 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The court issued the\u2026","rel":"","context":"In "High Profile Cases"","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/08\/karti-chidambaram.jpg?fit=650%2C400&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/08\/karti-chidambaram.jpg?fit=650%2C400&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/08\/karti-chidambaram.jpg?fit=650%2C400&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":53096,"url":"https:\/\/www.legalindia.com\/news\/black-money-case-karthi-chidambaram-gets-anticipatory-bail","url_meta":{"origin":53054,"position":2},"title":"Black Money Case: Karthi Chidambaram gets anticipatory bail","author":"Legal India Admin","date":"June 11, 2018","format":false,"excerpt":"Chennai:\u00a0The Madras High Court granted anticipatory bail to Karthi Chidambaram, son of former Union Minister P Chidambaram in connection with the warrant issued against him by the Income tax department under the Black Money Act for allegedly not disclosing foreign assets in a late night hearing. The court on Saturday\u2026","rel":"","context":"In "Criminal Law News"","block_context":{"text":"Criminal Law News","link":"https:\/\/www.legalindia.com\/news\/category\/criminal-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/madras-hc.jpg?fit=613%2C377&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/madras-hc.jpg?fit=613%2C377&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/madras-hc.jpg?fit=613%2C377&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":60448,"url":"https:\/\/www.legalindia.com\/news\/hc-quashes-income-tax-proceedings-against-karti-chidambaram-srinidhi-chidambaram","url_meta":{"origin":53054,"position":3},"title":"HC quashes Income Tax proceedings against Karti Chidambaram & Srinidhi Chidambaram","author":"Legal India Admin","date":"December 14, 2020","format":false,"excerpt":"The Madras High Court has quashed the\u00a0Income Tax proceedings initiated against Karti Chidambaram, son of former Union Finance Minister P Chidambaram,and his wife over alleged non-disclosure of cash transactions of about Rs seven crore following sale of a property near here. The Court, while ruling that the action is \"not\u2026","rel":"","context":"In "Top Law News"","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/01\/Karti-Chidambaram-and-his-wife-Srinidi.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":44955,"url":"https:\/\/www.legalindia.com\/news\/madras-hc-reserves-order-petition-filed-nalini-chidambaram","url_meta":{"origin":53054,"position":4},"title":"Madras HC reserves order on petition filed by Nalini Chidambaram","author":"Legal India News","date":"September 21, 2016","format":false,"excerpt":"Madras High Court today reserved its orders on a petition filed by senior advocate Nalini Chidambaram, wife of former Union Minister P Chidambaram, challenging the summons issued to her by the Enforcement Directorate in connection with its money laundering probe in the Saradha chit fund scam case. 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The high court asked them to remain present in person or\u2026","rel":"","context":"In "Court, Judiciary & Legal System"","block_context":{"text":"Court, Judiciary & Legal System","link":"https:\/\/www.legalindia.com\/news\/category\/court-judiciary-legal-system"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/download-19.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-dNI","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/53054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=53054"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/53054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media\/52956"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=53054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=53054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=53054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}