Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (7) TMI 825 - AT - Income TaxPenalty u/s 271(1)(c) - Bogus purchase - CIT(A) has confirmed the addition to the extent of 25% of the total alleged bogus purchases by the assessee - Held that:- assessee has furnished quantitative details of material purchased and material sold - addition of 12.5% of the alleged bogus purchase will meet the ends of justice - Following decision of VIJAY PROTEINS LTD. Versus ASSISTANT COMMISSIONER OF INCOME TAX. [2002 (2) TMI 349 - ITAT RAJKOT] - Decided partly in favor of assessee.
|