2025 (2) TMI 1509

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....DER PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against order dated 30/09/2024 passed by NFAC, Delhi in relation to penalty proceedings u/s. 271(1)(c) for the A.Y. 2010-11. 2. The assessee is aggrieved by levy of penalty u/s. 271(1)(c) on account of addition of Rs. 22,70,666/- which was made by applying the estimated GP rate of 12.5% on alleged bogus purchas....

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....receiving of this order, appeal has been filed immediately. Under these circumstances, delay of 40 days is condoned. 4. The brief facts are that assessee has filed its revised return of income at Rs. 4,75,660/- within the prescribed time limit which was accepted. However, subsequently, the case was reopened by issuance of notice u/s. 148 on 14/10/2014 on the ground that information has been rec....