KESARWANI & CO.,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result the appeal of the assessee is partly allowed

271(1)(c) were initiated. During the course of assessment, the following additions were made by the ld. AO. i. On account of suppressed sale – Rs. 16,68,561/-. ii. On account of inflated expenses on the basis of print outs of CPU marked as KZ-1 – Rs. 20,76,268/-. iii. On account of repair and maintenance - Rs.10

RAJESH KUMAR JAISWAL,,ALLAHABAD vs. DEPUTY/ACIT(CENTRAL), ALLAHABAD

In the result, the appeal of the assessee is partly allowed

Bench: the query raised by the assessing authority vide questionnaire issued under section 142 (1) dated 23.01.2021, in assessment proceedings for the AY 2018-19.

b. In view of the fact that the assessee had given two of his premises for rent on a day to basis and appointed a manager for each property, he held that the assesseewas in the business of letting out properties and accordingly, he confirmed the decision of the ld. AO to treat the income from those two properties