Court Upholds Penalty u/s 271(1)(c) for Fraudulent Income Estimation Based on Bogus Transactions.

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....Penalty u/s 271(1)(c) - estimation was not made on the basis of unverifiable transactions but the estimation of income was based on specific transactions carried out fraudulently and proved as bogus with supporting material evidences found in the case of assessee - levy of penalty confirmed - AT....