2021 (9) TMI 1024

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.... Per Saktijit Dey, JM Captioned appeals by the revenue are in respect of the same assessee and arise out of three separate orders, all dated 11-11-2019, of learned Commissioner of Income-tax (Appeals)-45, Mumbai deleting the penalty imposed under section 271(c) of the Income Tax Act, 1961 for the assessment years 2010-11, 2011-12 and 2009-10. 2. Briefly the facts are, the assessee, a partne....

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....rresponding sales, the assessing officer restricted the addition to the profit element embedded in the alleged non genuine purchases by estimating at 12.5% in all the years. Assessee contested the aforesaid additions before learned Commissioner (Appeals). Following the decision of the Tribunal in assessee's own case for assessment year 2009-10, though, learned Commissioner (Appeals) approved e....

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....4/- 3. Against the aforesaid orders of the assessing officer imposing penalty, assessee preferred appeals before learned Commissioner (Appeals). Being convinced with the submissions of the assessee that no offence in terms of section 271(1)(c) of the Act has been committed, learned Commissioner (Appeals) deleted the penalty imposed in all the assessment years under challenge. 4. We have cons....