IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER &

MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.486/Mum/2025 (Assessment Year :2016-17 ITO-34.2.1, Mumbai Vs. Mangal Suresh Karkhanis

302, New Shirin Lane, Vaishali Nagar Building No.2, Satrasta Mahalaxmi Mumbai- 400 011 PAN/GIR No.AQRPK5724A (Appellant) .. (Respondent CO No.155/Mum/2025 (Arising out of ITA No.486/Mum/2025)

(Assessment Year :2016-17 ITO-34.2.1, Mumbai Vs. Mangal Suresh Karkhanis

302, New Shirin Lane, Vaishali Nagar Building No.2, Satrasta Mahalaxmi Mumbai- 400 011 PAN/GIR No.AQRPK5724A (Appellant) .. (Respondent Assessee by Shri Gaurav Kabra, CA Revenue by Shri Annavaran Kosuri, Sr.

AR Date of Hearing 03/07/2025 Date of Pronouncement 04/09/2025 / O R D E R आदेश PER AMIT SHUKLA (J.M):

This appeal filed by the Revenue and the cross-objection filed by the assessee emanate from the order dated

25.11.2024 passed by the National Faceless Appeal Centre (“CIT(A)”), arising from the reassessment framed under section 147 r.w.s. 143(3) of the Income-tax Act, 1961 (“the Act”) for Assessment Year 2016–17.

2. The Revenue has challenged the deletion of additions made on account of alleged penny