2016 (7) TMI 1365

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..... correctness of the CIT(A)'s order dated 21.03.2013 confirming penalty of Rs. 99,320/- imposed by the Assessing Officer u/s 271(1)(c) of the Act for Assessment Year 2006-07. 2. Ld. Counsel for the assessee, at the outset, pointed out that the related quantum additions are made in respect of bogus purchases. She submits that vide order dated 04.01.2013 dealing with the Assessment Years 2005-06 and .....

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..... penalty of Rs. 99,320/- as well. 3. Ld. Departmental Representative, on the other hand, submits that the assessee had shown bogus purchases which now stand confirmed by the Tribunal - though partly. He submits that once the Tribunal has confirmed the related quantum addition, and there is nothing available for the defence of the assessee, the impugned penalty should also be confirmed. 4. I have .....

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