SHRI YASH PAUL MALHOTRA,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JALANDHAR

In the result the appeal of the assessee is allowed

Bench: Sh. Udayan Dasgupta & Sh. Brajesh Kumar Singh

section 271(1) raises a presumption of concealment, when difference is noted by the AO between reported and assessed income” The ld. AR further explained that the backdrop of the facts in the case of Mak Data was quite different from the facts of the instant case before us , because in the case of Mak Data, there was difference