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2016 (8) TMI 1389 - HC - Income TaxPenalty u/s 271(1)(c) - addition of bogus purchases - Held that:- Taking into consideration the order the Tribunal, the evidence which has surfaced on record as well as the decision of this Court in the case of Vijay Proteins Ltd. v. Commissioner of Income-tax [2015 (1) TMI 828 - GUJARAT HIGH COURT] wherein the question of law was answered in favour of the assessee and against the Revenue and consequently, the penalty imposed was quashed and set aside, we are of the view that the issues raised in this Appeal are to be answered in favour of the assessee and against the Department.
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