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2020 (4) TMI 218 - AT - Income TaxPenalty u/s.271(1)(c) - Whether assessee has concealed or furnished inaccurate particulars of its income - addition towards bogus purchases, disallowance u/s. 80IB addition towards undisclosed income and expenditure - HELD THAT:- On a careful perusal of the order of the Ld.CIT(A) and the reasons given therein, we do not find any good reason to interfere and disturb the findings in the order passed by the Ld.CIT(A) in sustaining penalty u/s. 271(1)(c) - CIT(A) has elaborately discussed the issues of additions/disallowances and rightly sustained the penalty u/s. 271(1)(c) of the Act on the said additions and disallowances made by the AO. Thus, as the findings and observations of the Ld.CIT(A) have not been rebutted with evidences by the assessee, we do not see any infirmity in the order passed by the Ld.CIT(A) in sustaining the action of the Assessing Officer. Grounds raised by the assessee are dismissed.
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