https://www.taxtmi.com/caselaws?id=287136 The Appellate Tribunal ITAT Mumbai addressed a jurisdictional issue regarding the validity of penalty proceedings under section 271(1)(c) and a merits issue related to the levy of penalty for alleged bogus purchases. The Tribunal found that the penalty proceedings lacked clarity on the charge for which the penalty was imposed. Following the decision of the Hon'ble Bombay High Court, the Tribunal allowed the appeal of the assessee by deleting the penalty. en-us Tue, 05 Mar 2019 00:00:00 +0530 Tue, 31 Mar 2020 12:11:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287136 The Appellate Tribunal ITAT Mumbai addressed a jurisdictional issue regarding the validity of penalty proceedings under section 271(1)(c) and a merits issue related to the levy of penalty for alleged bogus purchases. The Tribunal found that the penalty proceedings lacked clarity on the charge for which the penalty was imposed. Following the decision of the Hon'ble Bombay High Court, the Tribunal allowed the appeal of the assessee by deleting the penalty. Case-Laws Income Tax Tue, 05 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287136