ITO, WD-12(3), KOLKATA, KOLKATA vs. M/S B. U. GARDENS PVT. LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey] I.T.A. No. 598/Kol/2016 Assessment Year: 2009-10 Income Tax Officer-12(3), Kolkata…...….…….…………...……………………………………………….……..Appellant P-7, Chowringhee Square 7Th Floor Kolkata – 700 069 M/S. B.U. Gardens Pvt. Ltd.……………………………………………………………………………………......…..Respondent Anand Apartment 2 Rowland Road Kolkata – 700 020 [Pan : Aaccb 2595 A]

Penalty proceeding u/s 271(1)(c) read with Explanation 1 separately, for furnishing of inaccurate particulars of income.” 2.1. Aggrieved the assessee carried the matter in appeal. The ld. First Appellate Authority, in his detailed order allowed the claim of the assessee. Aggrieved the revenue is before us in the appeal on the following grounds:- “1. On the facts