‘Bonafide- Silly Mistakes’ in Tax Audit Report would not attract Income Tax penalty: ITAT [Read Order]

Tax Audit Report - Income Tax penalty - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that bonafide and silly mistakes in the tax audit report would not result into imposition of penalty under section 271(1)(c) of the Income Tax Act, 1961. The assessee, M/s. Deco Mica Limited, is a company which is engaged in the business of manufacturing and trading…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader