Income Tax - Case Law - M/s. Jugendra Singh Company Versus DCIT, Circle 3(1), Etah 2013 (8) TMI 741 - ITAT AGRA

Penalty u/s 271(1)(c) of the Income Tax Act - concealment of income - AO rejected to books of accounts since 90 of expenses paid in cash and not verifiable - AO applied the net profit rate 3.1 instead of 2.1 - Held that .......... Income Tax - Case Law