S. Manikumar, J.

1. Tax Case Appeal is directed against the order dated 20.11.2015 made in I.T.A. No. 1560/Mds/2015, for the assessment year 2011-2012, in the matter of M/s. Mansi Finance Chennai Ltd., Chennai, by which, the Tribunal has dismissed the appeal filed by the revenue.

2. Brief facts leading to the appeal are that the respondent, non-banking finance company, filed its return of income for the assessment year 2011-12 on 26.09.2011, admitting total income of Rs.25,91,180/-. The case was taken up for scrutiny and notice, under Section 143(2) of the Income Tax Act, 1961 (hereinafter referred to as "the Act"), was issued on 01.08.2012 and duly served on the assessee on 08.08.2012. Assessee's authorised representative appeared in person and produced a copy of the Memorandum of Articles of the Company, financials with reports, ledger accounts of parties, copies of purchase and sale deed of agricultural lands, donation receipt, Demat account, details of loans, copy of Village Administrative Officer Certificate, stating that the lands are fit for agricultural operations, copy of lease agreement, and other documents. The assessee Company has admitted income from financing