2015 (2) TMI 1426

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....Respondent By : Shri S.K. Mittal ORDER PER T.R.SOOD, A.M. The appeals filed by the assessees are directed against the separate orders dated 30.10.2014 of CIT(A), Chandigarh. 2. In both the appeals, similar grounds have been raised which are as under:-  "That the Ld. CIT(A) has failed to appreciate the facts and circumstances of the case and has thereby erred in sustaining....

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....f gold in contravention of section 40A(3) and 40A (3a). Section 40A(3) of the Income-tax Act, 1961 reads as under:- The word expenditure in section 40A(3) has not been defined in Act. It is word vide import. Section 40A(3) refers to the expenditure incurred by the assessee in respect of which payment is made. It means that all outgoings are brought under word "expenditure" for purposes of....

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.... confirmed by Ld. CIT(A). 8. Before us Ld. Counsel for the assessee submitted that purchases were not found bogus. The assessee had contended that purchases were made from farmers living in the nearby villages, therefore, case was covered by Rule 6DD(g) of the Income tax Rules, 1962. Though this plea was not accepted but still it cannot be said that assessee has concealed any particulars of inc....

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....d embrace the details of the clam made. Where no information given in the return is found to be incorrect of inaccurate, the assessee cannot be held guilty of furnishing inaccurate particulars. In order to expose the assessee to penalty, unless the case is strictly covered by the provision, the penalty provision cannot be invoked. By no stretch of imagination can making an incorrect claim tantamou....