Assessee should be aware that Department have discovered escapement of income: ITAT deletes penalty u/s 271 (1) (C) of Income Tax Act [Read Order]
ITAT deleted the penalty under Section 271(1) (c) of the Income Tax Act, 1961, stating that the assessee should be aware that the Department has discovered escapement of income
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1) (c) of the Income Tax Act, 1961, stating that the assessee should be aware that the Department has discovered escapement of income. The Commissioner of Income Tax ( Appeals ), dismissed the argument put forth by the…
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