DCIT, C.C.XXVII, KOLKATA, KOLKATA vs. M/S. PRATAP PROPERTIES LTD., KOLKATA

Accordingly, the grounds raised by the revenue for all the assessment years are dismissed

Bench: Hon. Sri Mahavir Singh & Hon. Sri M.Balaganesh

penalty u/s 271(1)(c ) of the Act by stating that the assessee had not demonstrated the manner of deriving the undisclosed income and had made the disclosure u/s 132(4) of the Act followed by offering the same in the returns filed u/s 153C and 139(1) of the Act , as the case may be, only because