KAVERI INFRA PROJECT PVT LTD,WARANGAL vs. DCIT, CENTRAL CIRCLE -1(3), HYDERABAD
In the result, the appeal of assessee in ITA
ITA 510/HYD/2022[2015-16]Status: DisposedITAT Hyderabad16 Mar 2023AY 2015-16
Bench: Shri Rama Kanta Panda & Shri Laliet Kumar
For Appellant: Shri K.C. DevdasFor Respondent: Shri KPRR Murthy
Section 132Section 143(3)Section 153ASection 153CSection 271Section 271(1)(c)
Section 271 of the 1961 Act in favour of the assessee. However, what needs to be noted is that the stated penalty proceedings were the outcome of the assessment order in question concerning assessment year
1998-1999. Indeed, at the time of assessment, the appellant/assessee had failed to produce any explanation or evidence in support of the entries regarding purchases
