https://www.taxtmi.com/caselaws?id=293914 The Tribunal upheld the CIT(A)'s decision to restrict the addition to 12.5% of the bogus purchases under Section 69C of the Income Tax Act. The appeals on charging interest under Sections 234B, 234C, and 234D were dismissed as mandatory. The challenge against the initiation of penalty proceedings under Section 271(1)(c) was deemed premature. Both the assessee and revenue appeals were dismissed, affirming the CIT(A)'s decision. en-us Mon, 27 Nov 2017 00:00:00 +0530 Tue, 09 Mar 2021 08:45:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293914 The Tribunal upheld the CIT(A)'s decision to restrict the addition to 12.5% of the bogus purchases under Section 69C of the Income Tax Act. The appeals on charging interest under Sections 234B, 234C, and 234D were dismissed as mandatory. The challenge against the initiation of penalty proceedings under Section 271(1)(c) was deemed premature. Both the assessee and revenue appeals were dismissed, affirming the CIT(A)'s decision. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293914