M/S ASHA TECHNOLOGIES,SIRMOUR vs. ADDL. CIT, SOLAN
In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt
ITA 388/CHANDI/2012[2007-08]Status: DisposedITAT Chandigarh19 Jul 2024AY 2007-08
Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)
For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Aditya Sood, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR
Section 142(1)Section 143(2)Section 250Section 253Section 80I
Penalty u/s 271 (1) (c ) of the Income Tax Act is also initiated for filing inaccurate particular of income and for concealing income.
28. That the Ld. AO also has given finding on presuming that assessee is engaged in the business of manufacturing activities :
“Although it has been well established that the assessee was not engaged in the manufacturing
