SH. MANINDER SINGH PROP. M/S DASHMESH BRICKS,BATHINDA vs. THE INCOME-TAX OFFICER, BATHINDA
In the result, the assessee’s appeal is dismissed
ITA 440/ASR/2017[2011-12]Status: DisposedITAT Amritsar28 Dec 2018AY 2011-12
Bench: Sh. Sanjay Arorai.T.A No.440/Asr/2017 Assessment Year:2011-12
For Appellant: Written SubmissionsFor Respondent: Sh. Charan Dass (D.R)
Section 268ASection 271(1)(c)Section 69A
69A. In appeal, the first appellate authority, while confirming the AO’s action, i.e., treating Rs.25.10 lacs, out of the total cash deposits of Rs. 47.60 lacs in his bank account by the assessee, as unexplained, allowed the assessee telescoping benefit, reducing the said income to Rs.12.66 lacs, on which the AO, accordingly, levied penalty u/s. 271
