TMI BlogPenalty u/s 271(1)(c) - Estimation of income on bogus purchases - Once the quantitative details of...Penalty u/s 271(1)(c) - Estimation of income on bogus purchases - Once the quantitative details of purchases and the corresponding quantitative sales have not been disturbed and has been accepted, then there cannot be any case for levy of penalty on account of alleged bogus purchases. - No penalty - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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