Tribunal deleted penalty on merit as regards addition is made on alleged bogus purchases on estimate basis. Tribunal also held that omission to strike off one of the twin charges in the notice can not invalidate penalty proceedings. Followed, Veena Estate (P) Ltd. v. CIT (2024) 336 CTR 688/ 461 ITR 483 (Bom)(HC). (AY.2009-10, 2010-11)
Dinesh Somatmal Dhokar v. ITO (2024) 230 TTJ 137 / 240 DTR 111 / 38 NYPTTJ 647 (Mum)(Trib)
S. 271(1)(c) : Penalty-Concealment-Bogus purchase-Addition made on estimate basis-Penalty is not leviable-Omission to strike off one of the twin charges in the notice-Not invalidate penalty proceedings. [S.69C, 274]