Incorrect Claim of Deduction or Expenses Made in ITR does not Amount to Concealment of Income or Furnishing Inaccurate Particulars: ITAT sets aside NFAC Order [Read Order]

Incorrect Claim - Incorrect Claim of Deduction - Incorrect - Claim - Deduction - Expenses - taxscan

The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that rejection of incorrect claim of deduction or expense made in the ITR, do not ispo facto tantamount to concealment of income or furnishing of inaccurate particulars, and set-aside the impugned order of NFAC(National Faceless Appellate Centre). The assessee in this present case is Kongnoli…

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