No Penalty Imposed u/s 271(1)(c) for Alleged Bogus Purchases Due to Lack of Evidence on Income Concealment.

Penalty u/s 271(1)(c) - Bogus purchases - Assessing Officer has only estimated the Gross Profit on the alleged non-genuine purchases without there being any conclusive proof of concealment of income or furnishing inaccurate particulars of such income - No penalty. .....

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