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Section 271(1)(c) penalty based on estimated addition & Defective notice is unsustainable
Case Law Details
- Case Name
- Jatin Enterprises Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Mumbai
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Jatin Enterprises Vs ACIT (ITAT Mumbai)
Introduction: In the case of Jatin Enterprises vs. ACIT (ITAT Mumbai), the Income Tax Appellate Tribunal (ITAT) delivered a significant ruling regarding the validity of a penalty notice. The appeal was directed against the order of the Commissioner of Income Tax (Appeals) confirming the levy of a penalty under section 271(1)(c) of the Income Tax Act, 1961.
Detailed Analysis: The crux of the matter revolved around the addition of Rs. 1,00,15,634/- on account of alleged bogus purchases made by the Assessing Officer. Despite the CIT(A) rest...
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