AO Fails to Clarify Concealment of Particulars of Income or Furnished Inaccurate Particulars: Delhi HC quashes 300% Penalty [Read Order]

AO Fails to Clarify Concealment of Particulars of Income - Delhi Highcourt quashes 300% Penalty - Penalty - Concealment of Particulars of Income - Delhi Highcourt - taxscan

The Delhi High Court quashed the 300% penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 on grounds that the Assessing Officer (AO) failed to clarify the concealment of particulars of Income or furnished inaccurate particulars. The High Court allowed the condonation of delay of filing 220 days in re-filing the appeal submitted…

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