No Concealment of Particulars or Furnishment of Inaccurate Particulars of Income : ITAT Deletes Penalty u/s 271 of Income Tax Act [Read Order]

By Ipsita Das - On October 4, 2023 4:30 pm - 2 mins read

No Concealment - Particulars or Furnishment - Inaccurate Particulars - Income-ITAT Deletes Penalty- Income Tax Act-TAXSCAN

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the assessee has neither concealed the particulars of income nor has furnished inaccurate particulars of income so as to levy of penalty under Section 271(1)(c) of the Income Tax Act,1961. The assessee in this case is M/s. Harson Labs Pvt. Ltd. During the assessment…

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