In the result, appeals of the assessee is allowed
Bench: Shri A.D. Jain & Dr. Mitha Lal Meena
Section 271(l)(c) where the addition was also sustained by the Hon'ble ITAT by applying the net profit rate of 3%. The penalty so imposed was cancelled by the CIT (Appeals) and the order of CIT (Appeals) cancelling the penalty was sustained by ITAT, Agra Bench. In Assessment Year 2009-10, in the present year, the penalty