ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]

ITAT Penalty us 271(1)(c) - Unfair Representation During - Liquidation Process - TAXSCAN

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the penalty under Section 271(1)(c) of the Income Tax Act, considering the unfair representation of the assessee during liquidation process. The assessee Freeplay Energy India Pvt. Ltd., was a company under the process of liquidation by virtue of an order passed by the…

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