Change of opinion & Change in Method of Accounting by assessee not Deemed Concealment of income: ITAT upholds Deletion of Penalty [Read Order]

By Devanand T R - On June 3, 2023 4:30 pm - 2 mins read

Change in Method of Accounting by assessee - Deemed Concealment of income -Concealment of income - ITAT upholds Deletion of Penalty - Deletion of Penalty - taxscan

The Income Tax Appellate Tribunal (ITAT), Pune Bench has upheld the deletion of penalty under Section 271(l)(c) of the Income Tax Act, 1961 stating that a change of opinion of assessee or a change in the method of accounting followed by the assessee is not a deemed concealment of income. The appeal was filed by…

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