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Income Tax Deduction cannot be Disallowed due to Bonafide Mistake or Error on the part of the Taxpayer: ITAT [Read Order]

By Navasree A.M - On January 25, 2023 9:18 pm - 3 mins read

The Chandigarh Bench of Income Tax Appellate Tribunal (ITAT) ruled that Income Tax Deduction under section 80IC of Income Tax Act, 1961 cannot be disallowed due to the bonafide mistake or error on the part of the taxpayer or assessee. Further the ITAT quashed the order issued by the Principal Commissioner of Income Tax (PCIT)…

Virgo Aluminum Ltd vs PCIT

Counsel for Appellant:   Shri Manoj Kumar

Counsel for Respondent:   Sh. Rohit Sharma

CITATION:   2023 TAXSCAN (ITAT) 250