S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

capital gains had arisen prior to 01.04.1999. In the case of alleged unexplained investments in land at Kodaikanal , the Assessing Officer further observed that the appellant had not fulfilled the condition stipulated to avail the benefit of immunity from the imposition of penalty proceeding provided in Explanation (5) to Section 271 (1) ( c) of the Act and therefore proceeded

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA