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2023 (4) TMI 381 - ITAT DELHIPenalty levied u/s 271(1)(c) - addition u/s 68 in respect of sundry creditors as the assessee could not prove the identity, genuineness and creditworthiness of the creditors - HELD THAT:- CIT(Appeals) considered the submissions of the assessee and the averments of the AO in the penalty order and placing reliance on the decisions of various issues sustained the penalty imposed holding that the assessee has not discharged its burden to prove the identity, creditworthiness and genuineness of the creditors. No infirmity in the order passed by the Ld.CIT(A) in sustaining the penalty levied u/s 271(1)(c) of the Act. Grounds raised by the assessee are rejected.
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