22 results for “penalty u/s 271”+ Section 2(22)(e)clear
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The appeals of the assessees are disposed of in the terms indicated as above
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
e) It is pertinent to mention here that in the case of the appellant, the Ld. AO has made an addition of Rs. 1095406/- i.e. net profit @ 5% by treating the entire alleged bank deposits of Rs. 25327125/- as turnover. That, on perusal of the aforesaid circular, your Honor will find that the said action of the AO as also