In the result, the appeal filed by the assessee is partly allowed
Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 337/Ahd/2014 िनधा"रण वष"/Asstt. Year: 2005-2006 Girishbhai M. Patel, A.C.I.T., 4, Regent Park, Vs. Mehsana Circle, Vanza Co-Operative Society, Mehsana. Part-Ii, Near Judges Bungalow, Bodakdev, Ahmedabad-380015. Pan: Abypp8093M
Disallowance of insurance amount claimed Rs.40,184/- Rs.24,27,511/- Total Income Rs.32,47,959/- i.e Rs.32,47,960/- 4.1 The AO in the assessment order has recorded to have issued penalty notice under section 274 read with section 271(1)(c) of the Act for concealment of income and furnished inaccurate particulars of income. Asstt. Year