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TMI Blog2019 (5) TMI 544X X X X Extracts X X X X X X X X Extracts X X X X ..... made in the hands of the assessee, which was on estimated basis. Therefore, we hold that the penalty to the extent as directed by Ld. first appellate authority would not be sustainable. - Decided in favour of assessee. - I.T.A. No.3604/Mum/2017 - - - Dated:- 3-5-2019 - Shri C.N. Prasad, JM And Shri Manoj Kumar Aggarwal, AM For the Assessee : Ms. Manshi Padhiar And Ms. N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowance was agitated before this Tribunal vide ITA No. 7582/Mum/2013 order dated 15/02/2017 wherein the matter of disallowance was set aside to Ld. AO to recompute the same after excluding strategic investments made by the assessee. Pursuant to the said directions, an order u/s 143(3) r.w.s. 254 was passed by Ld. AO on 23/06/2017 wherein the disallowance has been recomputed at ₹ 14,957/-. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no furnishing of inaccurate particulars of income or concealment of income on the part of the assessee rather a disallowance u/s 14A was made in the hands of the assessee, which was on estimated basis. Therefore, we hold that the penalty to the extent as directed by Ld. first appellate authority would not be sustainable. 5. The appeal stands partly allowed in terms of our above ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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