ITAT deletes Penalty imposed  u/s 271(1)(c) of Income Tax Act on Estimated Quantum Addition based upon information from Sales Tax Department [Read Order]

By Aparna. M - On November 4, 2023 8:00 am - 2 mins read
ITAT deletes Penalty imposed - ITAT deletes - Penalty imposed - Income Tax Act - Estimated Quantum Addition - Quantum Addition - Sales Tax Department - Sales Tax - ITAT News - Tax News - Income Tax - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Mumbai bench deleted the penalty imposed under Section 271(1)(c) of the Income Tax Act ,1961 on estimated quantum addition based upon information from the sales Tax Department. Assesee,  Jaisingh H. Solanki  is an individual, proprietor of M/s. Blue Star International engaged in the business of Trading (retailer/wholesaler) of Ferrous…

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