Case Law Details
RELEVANT PARAGRAPH
1. There being difference of opinion between the Members, the following questions were referred for the opinion of the Third Member:-
1. Whether, in the given facts and circumstances of the case, addition of Rs. 2,95,000/- on account of alleged undisclosed advance is justified or not ?
2. Whether, in the given facts and circumstances of the case, addition of Rs. 1,00,000/- for alleged unexplained stock found during the survey is justified or not?
3. Whether, since learned JM has admitted the quantum addition, the corresponding penalty levied u/s 271(1)(c) is to be cancelled/ deleted, or in view of the finding of the Ld. AM, the same has to be kept in abeyance?”
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