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2015 (10) TMI 2498 - ITAT DELHIPenalty u/s. 271(1)(c) - addition made on account of bogus purchases - Held that:- It is not in dispute that the ld. CIT(A) deleted the addition made by AO on account of alleged bogus purchase. Besides, the addition made on the basis of estimation of gross profit rate does not warrant to hold that the assessee has furnished inaccurate particulars of income as held in plethora of decisions, relied upon by the ld. CIT(A) in the impugned order. The ld. DR could not adduce any contrary decision on the issue. In view of this discussion, we do not find any justification to interfere with the impugned order deleting penalty. - Decided against revenue
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