MBS IMPES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(1), HYDERABAD
In the result, both the appeals of the assessees are allowed in above terms
ITA 330/HYD/2018[2010-11]Status: DisposedITAT Hyderabad04 Jan 2022AY 2010-11
Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2010-11 Mbs Impex Pvt. Ltd., Vs. Dy. Commissioner Of Hyderabad. Income-Tax, Central Circle – 3(1), Pan – Aaccm 2968E Hyderabad. (Appellant) (Respondent) Assessment Year: 2010-11 Mbs Jeweller Pvt. Ltd., Vs. Dy. Commissioner Of Hyderabad. Income-Tax, Central Circle – 3(1), Pan – Aaecm 7050M Hyderabad. (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Y.V.S.T. Sai, Cit-Dr Date Of Hearing: 13/12/2021 Date Of Pronouncement: 07/01/2022
For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Y.V.S.T. Sai, CIT-DR
Section 142Section 143(2)Section 143(3)
AAA is not justified.
24. The Ld. CIT (A) ought to have appreciated the fact that the appellant has neither concealed particulars of income nor furnished inaccurate particulars of income and therefore initiation of penalty proceeded u/ s
271(1)( c) is not justified.
25. The appellant may add or alter or amend or modify or substitute or delete
