https://www.taxtmi.com/highlights?id=53195 Addition u/s 68 - Levy of penalty u/s 271(1)(c) - concealment of particulars - unexplained cash credit / bogus purchases - At the time of assessment, the appellant/assessee had failed to produce any explanation or evidence in support of the entries regarding purchases made from unregistered dealers. In the penalty proceedings, however, the appellant/assessee produced affidavits of 13 unregistered dealers out of whom 12 were examined by the Officer - Additions and penalty set aside - SC en-us Tue, 28 Apr 2020 17:12:31 +0530 Tue, 28 Apr 2020 17:12:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53195 Addition u/s 68 - Levy of penalty u/s 271(1)(c) - concealment of particulars - unexplained cash credit / bogus purchases - At the time of assessment, the appellant/assessee had failed to produce any explanation or evidence in support of the entries regarding purchases made from unregistered dealers. In the penalty proceedings, however, the appellant/assessee produced affidavits of 13 unregistered dealers out of whom 12 were examined by the Officer - Additions and penalty set aside - SC Highlights Income Tax Tue, 28 Apr 2020 17:12:31 +0530 https://www.taxtmi.com/highlights?id=53195