In the result, both the appeals filed by the assessee are partly allowed for statistical purposes
Bench: Shri Manomohan Das & Shri Rakesh Mishra
70,00,000/- as the undisclosed the rental income, hence he inferred that the assessee had concealed his income for the year under consideration by not disclosing the income which was later disclosed during the search action and accordingly penalty u/s 271AAB of ₹51,00,000/- was imposed. Aggrieved with the penalty order, the assessee filed an appeal before