DHARMENBHAI MAHENDRABHAI SUTARIA,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(2), AHMEDABAD
In the result appeal of the assessee is hereby allowed
ITA 252/AHD/2022[2011-12]Status: DisposedITAT Ahmedabad10 Apr 2024AY 2011-12
Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalasstt. Sr.No.
For Appellant: Ms Nupur Shah, A.RFor Respondent: Shri Ashok Kumar Suthar, Sr.DR
Section 132Section 153ASection 271(1)Section 271(1)(c)
u/s 153A of the Act as on 7th December 2016 wherein declared additional income of Rs. 25 lakhs against the cash deposited in the bank account and contributed to the partnership firm. The AO against the additional income offered initiated penalty proceedings under section 271(1)(c) of the Act.
Finally, the AO levied a penalty