ITAT deletes Addition and Penalty u/s 271(c) on Estimated Income [Read Order]

ITAT deletes Addition and Penalty - us 271(c) on Estimated Income - TAXSCAN

The  New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the addition and penalty under section 211(c) of the Income Tax Act 1961, on estimated income. An application was filed by the assessee Mohd. Jawed,for condoning the delay of 798 days. The tribunal considered the fact that the assessee was a senior…

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