SH. CHETAN JAIN,LUDHIANA vs. DCIT, LUDHIANA
In the result, the appeal of the assessee is dismissed
ITA 256/CHANDI/2017[2010-11]Status: DisposedITAT Chandigarh04 Jul 2018AY 2010-11
Bench: Shri Sanjay Garg & Ms. Annapurna Guptash.Chetan Jain, Vs. The D.C.I.T., B-121, Pushap Vihar, Central Circle-Iii, Canal Road, Ludhiana. Ludhiana. Pan: Aaypj0618H (Appellant) (Respondent)
For Appellant: NoneFor Respondent: Smt.Chanderkanta, Addl. CIT
Section 132Section 132(4)Section 153ASection 271(1)Section 271(1)(c)
68,020/-,being 100% of the tax sought
to be evaded on the income concealed.
3. The matter was carried in appeal before the
Ld.CIT(A),where the assessee reiterated the contentions
made before the AO and further contended that since no
incriminating material was found during search no penalty
could be imposed even by invoking Explanation 5A to
section
