SURESH KUMAR REDDY KRISHNAPURAM,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

Penalty u/s.270A of the Act is initiated separately for non-reporting of income. 9. Aggrieved by the assessment order, the assessee preferred appeal before the learned CIT(A). Before the learned CIT(A), the assessee challenged the rejection of books of accounts and estimation of 14% profit on disclosed turnover and also estimation of 18% profit on suppressed turnover