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Income Tax Appellate Tribunal, “A” BENCH, MUMBAI
Before: SHRI MAHAVIR SINGH, VP & SHRI M. BALAGANESH, AM
O R D E R भहावीय ससिंह, उऩाध्मऺ के द्वाया / PER MAHAVIR SINGH, VP: This appeal of Revenue is arising out of the order of the Commissioner of Income Tax (Appeals)]-20, Mumbai [in short CIT(A)], dated 17.06.2019. The assessment was framed by the
The only issue in this appeal of Revenue is against the order of CIT(A) deleting the levy of penalty under section 271(1)(c) of the Act for furnishing of inaccurate particulars of income in respect to the claims of assessee on bogus purchases on which depreciation as claimed. For this, Revenue has raised the following grounds: - “
1. On the facts and in the circumstances of the case, the 14. CIT (A) erred in deleting the penalty levied by the AO u/s 271(l)(c) of the Income Tax Act, 1961, of Rs.87,716/- without appreciating the facts that the assessee claimed bogus purchases in its Return of Income and thus furnished inaccurate particulars of income within the meaning of section 27 l( 1)(c) of the Income Tax Act, 1961.