In the result, the appeal of the assessee is partly allowed
Bench: Shri N.V Vasudevan & Ms. Padmavathy Sassessment Year : 2016-17
271A on the assessee for not maintain books of accounts. But later deleted the same relying on the decision of the jurisdictional High Court in the case of CIT vs Babu Reddy (2010) 38 DTR147 (KAR). 8. The PCIT initiated proceedings u/s. 263 stating that grant of depreciation and interest was not in accordance with the provisions of section