Failure to Furnish Proper ITR: ITAT upholds penalty u/s 271(1) (c) of Income Tax Act

ITAT upheld a penalty under Section 271(1) (c) of the Income Tax Act, 1961, for failure to furnish proper Income Tax Return (ITR)
By Aiswarya Krishnadas - On February 22, 2024 8:33 am - 2 mins read
ITAT Mumbai - Income Tax Act - Income Tax - ITAT Penalty Decision - Failure to Furnish ITR Penalty - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld a penalty imposed under Section 271(1) (c) of the Income Tax Act, 1961, for failure to furnish proper Income Tax Return ( ITR ). The assessee was engaged in the business of real estate development. The case was selected for scrutiny and…

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