https://www.taxtmi.com/caselaws?id=251626 The Tribunal reversed the CIT(A)'s decision and upheld the addition of Rs. 27,27,479 as income due to bogus purchase expenses. The Tribunal reinstated the penalty of Rs. 11,78,752 under Section 271(1)(c) for furnishing inaccurate particulars, remanding the penalty issue back to the CIT(A) for reconsideration based on other grounds. The case was remanded for further consideration on the penalty matter. en-us Fri, 24 Jan 2014 00:00:00 +0530 Mon, 22 Sep 2014 06:28:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251626 The Tribunal reversed the CIT(A)'s decision and upheld the addition of Rs. 27,27,479 as income due to bogus purchase expenses. The Tribunal reinstated the penalty of Rs. 11,78,752 under Section 271(1)(c) for furnishing inaccurate particulars, remanding the penalty issue back to the CIT(A) for reconsideration based on other grounds. The case was remanded for further consideration on the penalty matter. Case-Laws Income Tax Fri, 24 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251626