THEKKINIAN PAULOSE VARKEY,THRISSUR vs. ACIT, CIRCLE 2(1), THRISSUR
In the result, the appeal filed by the assessee stands allowed
ITA 959/COCH/2024[2015-16]Status: DisposedITAT Cochin31 Jul 2025AY 2015-16
Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI SONJOY SARMA (Judicial Member)
For Appellant: Ms. Niveditha K. Kammath, AdvocateFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 271(1)(c)Section 274Section 68
92,150/-. While doing so, the AO brought to tax the addition to capital of Rs. 97,62,000/- disbelieving the sundry creditors appearing in the Balance Sheet and the said assessment was not agitated before the appellate forum. Thus, the assessment attained finality. The AO also initiated penalty proceedings u/s. 271(1)(c) of the Act by issuing show