CHANDRAKANT VITHTHAL BHOPI,RAIGAD vs. ITO WARD 1 , PANVEL
In the result, the appeal filed by the assessee is allowed
ITA 2405/PUN/2024[2016-17]Status: DisposedITAT Pune07 May 2025AY 2016-17
Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17 Chandrakant Viththal Bhopi Ito, Ward-1, Panvel At Chinchpada, Post Panvel, Tal. Vs. Panvel, Dist. Raigad – 410206 Pan: Bjdpb7610L (Appellant) (Respondent) Assessee By : Shri Nikhil S Pathak & Ajinkya M Vaishampayan Department By : Shri Ramnath P Murkunde Date Of Hearing : 05-05-2025 Date Of Pronouncement : 07-05-2025 O R D E R
For Appellant: Shri Nikhil S Pathak &For Respondent: Shri Ramnath P Murkunde
Section 11Section 142(1)Section 147Section 148Section 148ASection 151Section 2(14)Section 28Section 56(2)(viii)
2)(viii). Therefore, in accordance with the above, 50% of Rs.2,60,05,088
amounting to Rs.1,30,02,544/- is treated as deduction and the balance amount of Rs.1,30,02,544/- is hereby to be treated as income from other sources. Penalty proceedings u/s 271(1)(c) are initiated separately for concealment of income.‖
7. In appeal
