In the result, all four appeals filed by the assessee are allowed for statistical purposes
Bench: The Ld. Cit(A) Against The Assessment Order & Penalty Orders As Under:
271(1)(c) 18.08.25 42 days Penalty of Rs. 50,88,576/- A.Y. 2015-16 3. Briefly stated the facts of the case are that as per the information with the income tax department the assessee has deposited substantial amount of cash in his savings bank accounts in SBI Madame Cama Road, Mumbai but did not file return of income