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2020 (12) TMI 849 - AT - Income TaxPenalty u/s 271 (1)(c) - bogus purchases - CIT (A) sustained the addition of 12.5% made by the AO - HELD THAT:- CIT (A) has deleted the penalty levied u/s 271 (1) (c) of the Act, by following the decisions of the coordinate Benches wherein the Tribunal has held that where the addition is made on estimate basis, penalty u/s 271 (1) (c) cannot be imposed. Since, the findings of the Ld. CIT (A) are based on the decisions of the coordinate Benches rendered in the cases discussed by the Ld. CIT(A), we do not find any reason to interfere with the findings of the Ld. CIT (A). We accordingly uphold the decision of the Ld. CIT (A) and dismiss the appeal filed by the revenue. Accordingly, we direct the AO to delete the penalty levied under section 271 (1) (c) of the Act. - Decided against revenue.
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