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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Levy of penalty u/s.271(1)(c) - bogus purchases - AO has not ...


Penalty for Bogus Purchases u/s 271(1)(c) Challenged Due to Lack of Specific Justification by Assessing Officer.

August 21, 2019

Case Laws     Income Tax     AT

Levy of penalty u/s.271(1)(c) - bogus purchases - AO has not brought out any cogent specific reason for imposing penalty - Penalty cannot be levied on assumption, there has to be something more which can justify such levy of penalty

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