2022 (7) TMI 1324

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..... sessee by : Mr. S.C. Agrawal, AR ORDER PER OM PRAKASH KANT, AM By way of this Miscellaneous Application, the Revenue is seeking recall of the order dated 02.07.2021 passed by the Tribunal in ITA No. 5483/M/2019 for assessment 2009-10. 2. Before us, the Ld. DR submitted that appeal was filed by the Revenue against the order passed by the Ld. CIT(A) in penalty  proceedings u/s 271(1)(c) .....

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..... the material on record, we observe that Ld. CIT(A) has passed the appellate order after following the decision of Hon'ble Gujarat High Court in the case of CIT vs. Simit P. Sheth (supra) wherein it has been held that in case of bogus purchases only profit element embedded in the bogus purchases ¡s to be assessed. We note that the co-ordinate benches of the Tribunal have been taking a consist .....

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