AMIT KHEMKA,KOLKATA vs. ITO, WARD - 43(1), KOLKATA

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

58,785/- being @8% of 2,32,34,819/-, as additional income over and above the income disclosed in the return. No appeal was preferred by the assessee against the addition confirmed. While giving effect to the appeal order, the Assessing Officer, suo moto also issued a penalty notice u/s 274 read with 271B of the Act dated