https://www.taxtmi.com/caselaws?id=443352 Penalty under section 271(1)(c) for concealment of income was sustained where the additions arose from bogus purchase bills and non-genuine purchase transactions. The assessee did not appear and placed no material to rebut the appellate findings or show any error in the recorded conclusions. In the absence of contrary evidence, the ITAT found no basis to interfere with the Commissioner (Appeals)'s view that the concealment penalty was properly imposed. en-us Thu, 27 Jul 2023 00:00:00 +0530 Thu, 21 Sep 2023 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443352 Penalty under section 271(1)(c) for concealment of income was sustained where the additions arose from bogus purchase bills and non-genuine purchase transactions. The assessee did not appear and placed no material to rebut the appellate findings or show any error in the recorded conclusions. In the absence of contrary evidence, the ITAT found no basis to interfere with the Commissioner (Appeals)'s view that the concealment penalty was properly imposed. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443352