https://www.taxtmi.com/caselaws?id=207912 The Tribunal dismissed both appeals of the assessee, upholding the estimation of profit on the transfer of the BPO business, the disallowance of business loss, and the levy of penalty under section 271(1)(c). The decisions were based on the findings that the transactions were collusive and aimed at tax evasion, justifying the AO's and CIT(A)'s orders. en-us Thu, 23 Dec 2010 00:00:00 +0530 Mon, 15 Jul 2013 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207912 The Tribunal dismissed both appeals of the assessee, upholding the estimation of profit on the transfer of the BPO business, the disallowance of business loss, and the levy of penalty under section 271(1)(c). The decisions were based on the findings that the transactions were collusive and aimed at tax evasion, justifying the AO's and CIT(A)'s orders. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207912