No Concealment of Income or Furnishing of Inaccurate Particulars: ITAT upholds Deletion of Penalty u/s 271(1)(c) [Read Order]

No Concealment of Income or Furnishing of Inaccurate Particulars - Income - Inaccurate Particulars - ITAT - Penalty - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no penalty could be imposed under section 271(1)(c) as no concealment of income or furnishing of inaccurate particulars was done as Alleged by Revenue. The assessee in all these assessment years filed returns declaring NIL income. The assessments were completed by the AO…

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