No Penalty be Imposed in Cases Where “Reasonable Cause” is Successfully Pleaded: ITAT [Read Order]

Penalty - Reasonable Cause - Cases - ITAT - No Penalty - Taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that no penalty shall be imposed in cases where reasonable cause was successfully pleaded. The assessee Narendrakumar was an individual engaged in the business of repairing gold/silver ornaments. For the Assessment Year 2017-18, the assessee filed its Return of Income on 29.03.2018. The assessee…

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