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2013 (7) TMI 7 - AT - Income TaxPenalty u/s 271(1)(c) - Held that:- The assessee had made claim of expenditure which was held not to be genuine by the AO as well as by the CIT(A) and by the Tribunal. Further, the assessee had grossly failed to prove that consultancy services were obtained from M/s. Super Consultancy Services for the purpose of the assessee's business. The circumstantial evidences also showed that the assessee did not obtain any services from M/s. Super Consultancy Services as held by the Tribunal. Thus, it has become evident that the transaction is bogus and not genuine. In these circumstances, it is not necessary to interfere with the order of the CIT(A) sustaining the penalty made by the AO u/s 271 (1) (c). Against assessee.
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