Failure to file ITR bonafidely and witness no Loss to Revenue as Proper Tax was already Paid: ITAT deletes Penalty [Read Order]

By Namaskar Acharya - On August 3, 2023 6:00 am - 2 mins read

Failure - file -ITR - Loss - Revenue - Proper- Tax - already -Paid-ITAT - Penalty-taxscan

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) set aside penalty of Rs.5000 under Section 271F of the Income Tax Act, 1961 on grounds of non-filing of returns by the assessee bonafidely and did not witness any loss to the revenue as the proper tax was already paid. The assessee was assessed at…

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Topics

CIT(A)ITAT Jaipur Penalty Sandeep Gosain Section 147 of the Income Tax Act Taxation