Fraudulent Refund by Increasing Deductions and Reducing Taxable Income is Fraud committed against Dept to Evade Income Tax: ITAT upholds Penalty [Read Order]

By Killamsetty Rasmita - On August 3, 2023 2:00 pm - 2 mins read

Fraudulent Refund - Increasing Deductions and Reducing Taxable - Income is Fraud committed - Dept to Evade Income Tax - ITAT Upholds Penalty - TAXSCAN

The Pune Bench of the Income Tax Appellate Tribunal upheld a penalty for misreporting income and suppressed gross total income and inflated deduction claims under chapter VI-A of the Income Tax Act, 1961. The assessee, Sanjeev Kumar Manchand is an individual who derives income from salary. The assessee misreported income in 2017-18, claiming a deduction…

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