MANPREET SINGH BHULLAR,PARWANOO vs. ITO, PARWANOO

In the result, appeal of the assessee is allowed

54F was also denied as at the time of inspection the residential house acquired was also demolished and site was used for construction of hospital. The disallowance was upheld upto Tribunal and quantum appeal was admitted by High Court on substantial question of law. The AO levied penalty under section 271(1)(c) for concealment which was upheld

ITO, LUDHIANA vs. SH. CHARANJIT SINGH ATWAL, LUDHIANA

In the result, the penalty of the assessee is hereby allowed and that of the Revenue is dismissed