M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

section 36(i)(iii) of the Act, turns out to be Rs. 12,10,134/-. In light of the facts presented in preceding paras, proportionate amount is being disallowed and added back to the income of the assessee. Penalty proceedings u/s 271

M/S BANARAS SWARN KALA KENDRA PVT. LTD.,,VARANASI vs. ACIT, CC, VARANASI

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2011-12 M/S. Banaras Swarn Kala Kendra Pvt. Ltd., The Assistant Commissioner Of Ck-65/70A, Bari Piari, V. Income Tax, Varanasi-221002, U.P. Central Circle, Aaykar Bhawan, M A Road, Varanasi-221002, U.P. Pan:Aaccb1623M (Appellant) (Respondent) Assesseeby: Shri A.K. Pandey, Advocate Revenue By: Shri Neeraj Kumar, Cit Dr Date Of Hearing: 25.08.2022 Date Of Pronouncement: 21.11.2022

Penalty proceedings u/s 271AAA is being initiated separately on this point. (Addition of Rs. 8,06,04,299/-) That is how the addition of Rs. 8,06,04,299/- was made by the AO, which was the first addition made by the AO , w.r.t. differential in value of stock based on seized material vis-à-vis stock found