https://www.taxtmi.com/highlights?id=57554 Penalty u/s 271(1)(c) - Bogus purchases - no clinching material had been brought on record by the revenue which could disprove the authenticity of the purchases claimed by the assessee to have been made from the aforementioned parties thus, no penalty under Sec.271(1)(c) could have validly been imposed upon him. - AT en-us Sat, 10 Apr 2021 09:02:19 +0530 Sat, 10 Apr 2021 09:02:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57554 Penalty u/s 271(1)(c) - Bogus purchases - no clinching material had been brought on record by the revenue which could disprove the authenticity of the purchases claimed by the assessee to have been made from the aforementioned parties thus, no penalty under Sec.271(1)(c) could have validly been imposed upon him. - AT Highlights Income Tax Sat, 10 Apr 2021 09:02:19 +0530 https://www.taxtmi.com/highlights?id=57554