Proceedings u/s 271(1)(c) on account of furnishing inaccurate particulars of income

Last updated: 14 January 2022
Quick Summary
This case involves an appeal by M/s. Morakhia Copper and Alloys Pvt. Ltd. against a penalty imposed under Section 271(1)(c) of the Income Tax Act for the Assessment Year 2011-12. The company was found to have made bogus purchases, leading to an addition to their income by the Assessing Officer. Despite being issued a penalty notice, the assessee failed to provide any reply. Consequently, the Assessing Officer levied a penalty. The Income Tax Appellate Tribunal dismissed the appeal as the assessee did not appear for hearings and showed a lack of seriousness in pursuing the case.

Court :
ITAT Ahmedabad

Brief :
The captioned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax(Appeals)-2, Ahmedabad, dated 24/12/2018 arising in the matter of penalty order passed under s. 271(1)(c) of the Income Tax Act, 1961

Citation :
ITA No. 161/AHD/2019

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1999
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