SHRI AMIT TIWARI,INDORE vs. THE DCIT (CENTRAL)-2, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2015-16

194 TTJ 338 (Visakhapatnam - Trib.) has held that: “9.Penalty u/s 271AAB attracts on undisclosed income but not on admission made by the assessee u/s 132(4). The AO must establish that there is undisclosed income on the basis of incriminating material. In the instant case a loose sheet was found according to the A.O., it was incriminating material evidencing

GLOBUS HOUSING,BHOPAL vs. ASSESSMENT UNIT, NFAC, DELHI

The appeal of the assessee is allowed and the “impugned

Bench: Shri Bhagirath Mal Biyani & Shri Paresh M Joshi

bogus loan to assessee during the year under assessment. In view of above fact, the region for reopening of assessment as recorded following the procedure and law as prescribed the fact and circumstances of the assessee's case are different from the case law cited. In view of the above discussion the objection raised by assessee is disposed