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Section 271B25 Section 44A10 Section 1325 Section 1445 Section 139(1)5 Capital Gains5 Business Income5 Unexplained Investment5 Cash Deposit5 Penalty

LALIT SAKALCHAND GANDHI,,KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE ,, KOLHAPUR

In the result, the appeal of assessee is allowed

ITA 1300/PUN/2019[2007-08]Status: DisposedITAT Pune10 Aug 2022AY 2007-08

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Arvind Desai

Section 132Section 139(1)Section 144Section 271BSection 44A

271B of the Act against the assessee for his failure to gets its accounts audited. The ld. AR contends that there were no sales or purchase made by the assessee during the year under consideration and the additions made on account of unexplained cash deposits, unexplained investments, unexplained other investments and unexplained profit on sale of land to an extent