PANDA INFRATECH LIMITED,BHUBANESWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, BHUBANESWAR
In the result, appeal of the assessee is allowed
ITA 416/CTK/2024[2015-2016]Status: DisposedITAT Cuttack16 Dec 2024AY 2015-2016
Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2015-16 Panda Panda Infratech Infratech Limited, Limited, Vs. Dy. Dy. Commissioner Commissioner Of Of Plot Plot No.620, No.620, Janpath, Janpath, Income Tax, Central Circle- Income Tax, Central Circle Saheed Saheed Nagar, Nagar, 2, Bhubaneswar. 2, Bhubaneswar. Bhubaneswar Pan/Gir No. No.Aafcp7216 D (Appellant (Appellant) .. ( Respondent Respondent) Assessee By Assessee By : Shri D.Parida, Ca & C.A.Parida & C.A.Parida, Adv Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024 O R D E R Per Bench This Is An This Is An Appeal Filed By The Assessee Against The Orde Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), Bhubaneswar Cit(A), Bhubaneswar-2 Dated 10.8.2024 In Appeal No. In Appeal No.Cit(A), Bhubaneswar-2/10013/2018 2/10013/2018-19 Against Against The The Penalty Penalty Order Order Passed Passed U/S.271Aab Of The Act U/S.271Aab Of The Act For The Assessment Year 2015-16. 2. The Assessee Has Raised The Following Grounds In This Appeal: The Assessee Has Raised The Following Grounds In This Appeal: The Assessee Has Raised The Following Grounds In This Appeal:
For Appellant: Shri D.Parida, CA & C.A.ParidaFor Respondent: Shri S.C.Mohanty, Sr DR
Section 143(3)Section 147Section 148Section 250Section 271A
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Assessment Year : 2015-16
result of search and accordingly, penalty @ 30% of the undisclosed income of Rs.1,88,55,000/- was levied u/s. 271AAB(1)(c) of the Act , which comes to Rs.56,55,000/-. Against this order, the assessee preferred appeal before the ld CIT(A), Bhubaneswar-2, who dismissed the appeal. Therefore, the present appeal
