2016 (7) TMI 1365

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....he assessee-appellant has challenged correctness of the CIT(A)'s order dated 21.03.2013 confirming penalty of Rs. 99,320/- imposed by the Assessing Officer u/s 271(1)(c) of the Act for Assessment Year 2006-07. 2. Ld. Counsel for the assessee, at the outset, pointed out that the related quantum additions are made in respect of bogus purchases. She submits that vide order dated 04.01.2013 dealing....

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....Assessment Year 2005-06 and delete this penalty of Rs. 99,320/- as well. 3. Ld. Departmental Representative, on the other hand, submits that the assessee had shown bogus purchases which now stand confirmed by the Tribunal - though partly. He submits that once the Tribunal has confirmed the related quantum addition, and there is nothing available for the defence of the assessee, the impugned pen....