No Concealment of Particulars and Filing of Inaccurate Particulars of Income: ITAT deletes Penalty u/s Section 271(1)(c) of Income Tax Act [Read Order]

By Fathima Karama A.M - On August 6, 2023 3:30 pm - 2 mins read

Concealment - Inaccurate Particulars of Income - Particulars of Income - ITAT deletes Penalty - ITAT - Penalty - Income Tax Act - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 27(1)(C) of the Income Tax Act, 1961 as there was no concealment of particulars and filing of inaccurate particulars of income. The assessee, Dineshkumar Kanjibhai Patel filed return of income declaring income after claiming exemption under Section 10(38) of the…

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