Delay in Filing Income Tax Return under Bona fide belief that No Taxable Income: ITAT deletes Penalty u/s 271F [Read Order]

By Taxscan Team - On July 26, 2022 10:08 am - 2 mins read
Income Tax Return - Bonafide Belief - Taxable Income - ITAT - Penalty - taxscan

The Income Tax Appellate Tribunal (ITAT), Surat Bench presided by Pawan Singh, Judicial Member, and Dr. Arjun Lal Saini, Accountant Member has held that delay in filing Income Tax Return under bona fide belief that no taxable income and deletes penalty u/s 271F. The appellant, Suresh Ramanbhai Naik’s case was reopened under section 147, and…

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