ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD vs. ACE CONSTRUCTIONS, HYDERABAD
In the result, appeal of Revenue in ITA No
ITA 52/HYD/2021[2012-13]Status: DisposedITAT Hyderabad18 Oct 2023AY 2012-13
Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्यर्थी / No.
For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68
penalty proceedings u/s 271(1)(c) for concealment of income on the above addition on account of cash deposits in the bank accounts. Paragraph 33 of the assessment order is reproduced hereinbelow for the completeness of the record.
“33.0 Accordingly an amount of Rs 3,09,94,700/- is brought to tax as unexplained cash credits of assessee firm