ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act, Citing No Inaccurate Income Particulars or Deliberate Concealment [Read Order]

There was no furnishing of inaccurate particulars of income or deliberate attempt to conceal income.
By Aiswarya Krishnadas - On May 19, 2024 11:04 am - 2 mins read
ITAT - ITAT Deletes Penalty - Income tax penalty - tax updates - taxscan

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1) (c) of the Income Tax Act, 1961 concluding there was no furnishing of inaccurate particulars of income or deliberate attempt to conceal the income. Facts giving rise to the present appeal are that the assessee- revenue Deputy…

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