In the result, the appeal filed by the assessee is partly allowed for statistical purposes
Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra
penalty proceedings u/s 271(1)(c) of the Income tax Act, 1961 for concealment of income. 8. For that the order of the CIT (Appeal) and assessment order passed by the Id. Assessing officer is wrong, arbitrary and unjustified in the facts and circumstances of the case and is bad in law as well as fact