MAHANT PANDEY,ROHTAS vs. NFAC, DELHI

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

natural justice. 17. That Penalty proceeding u/s 271AAC is also initiated as the income determined includes income referred u/s 69 of the Income Tax Act,’61. As the entire source is explain hence no penalty proceeding has no legal legs to stand in court of law. 18. That the Ld. NFAC has allowed the similar case