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2020 (8) TMI 746 - AT - Income TaxPenalty u/s. 271(1)(c) - disallowance on account of bogus purchases - AO allowed 12.5% of aggregate of total alleged bogus purchases - CIT(A) after considering the submission of assessee concluded that no penalty under section 271(1)(c) can be levied on adhoc addition and deleted the entire penalty levied - HELD THAT:- CIT(A) while passing the impugned order has followed the order of Tribunal in M/s Chempure vs. ITO [2010 (5) TMI 678 - ITAT MUMBAI] & Earthmoving Equipment Service Corporation vs. Dy.CIT [2017 (5) TMI 474 - ITAT MUMBAI]. In our view, it is now settled position under the law that no penalty under section 271(1)(c) is leviable on adhoc addition. Therefore, we affirmed the order passed by ld. CIT(A). No contrary facts or law is brought to our notice to take other view. - Decided against revenue.
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