9911796707
TMI Blog2018 (2) TMI 118X X X X Extracts X X X X X X X X Extracts X X X X ..... PER SUNIL KUMAR YADAV: This appeal is preferred by the assessee against the order of the ld. CIT(A) confirming the penalty levied under section 158BFA of the Act. 2. During the course of hearing, the ld. A.R. of the assessee has invited our attention to the order of the Tribunal passed in quantum and assessment order giving effect to the order of the Tribunal, with the submission that while g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e source of small investments, penalty should not have been levied. 3. The ld. D.R., on the order hand, relied upon the order of the ld. CIT(A). 4. Having carefully examined the orders of the lower authorities in the light of the rival submissions, we find that while giving effect to the order of the Tribunal, the Assessing Officer has made addition of Rs. 5,23,895/-, the details of which are as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as per LP-3 (166) Rs.1,98,500/- 12. Undisclosed income Rs.nil Total undisclosed income Rs.5,23,895/- 5. Being not convinced with the explanations of the assessee with regard to small investments, the Assessing Officer has levied penalty under section 158BFA of the Act of Rs. 3,14,337/-. 6. We have carefully examined the issues on which additions were made by the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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