Computation of Income resulting in Higher Income is only Difference of Opinion: ITAT deletes Penalty [Read Order]

Income - Higher - Incom - ITAT - Penalty - TAXSCAN

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has recently while deleting the penalty imposed by the assessing officer held that computation of income resulting in a higher income is only difference of opinion. Assesse Dinesh Kumar Agarwal, filed his return of income showing total income of Rs.49,76,450.Therfater while making assessment proceedings the…

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