No Penalty for Estimated Income Additions u/s 271(1)(c) of Income Tax Act in Bogus Purchase Cases.

No Penalty for Estimated Income Additions u/s 271(1)(c) of Income Tax Act in Bogus Purchase Cases. https://www.taxtmi.com/highlights?id=72485 Penalty u/s 271(1)(c) - estimation of income - bogus purchases - penalty u/s 271(1)(c) of the Act cannot be levied where the addition is made on estimate basis - AT en-us Wed, 11 Oct 2023 08:42:32 +0530 Wed, 11 Oct 2023 08:42:32 +0530 TaxTMI RSS Generator No Penalty for Estimated Income Additions u/s 271(1)(c) of Income Tax Act in Bogus Purchase Cases. https://www.taxtmi.com/highlights?id=72485 Penalty u/s 271(1)(c) - estimation of income - bogus purchases - penalty u/s 271(1)(c) of the Act cannot be levied where the addition is made on estimate basis - AT Highlights Income Tax Wed, 11 Oct 2023 08:42:32 +0530 https://www.taxtmi.com/highlights?id=72485