No Penalty leviable on Account of Disallowance u/s. 14A of Income Tax Act on Proper Filing of ROI: ITAT Grants Relief to ICICI Bank by Deleting Penalty [Read Order]

By Shabna Rahim - On June 15, 2023 10:00 am - 2 mins read

Penalty - Penalty leviable - Account - Disallowance - Income Tax Act - Proper Filing of ROI - ROI - ITAT Grants Relief to ICICI Bank - ICICI Bank - Relief to ICICI Bank - ITAT - Income Tax - Deleting Penalty - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) granted relief to the ICICI bank by deleting the penalty imposed under section 14A of the Income Tax Act,1961 due to improper filing of return of income. ICICI Bank Ltd, the respondent-assessee filed a return of income and the assessing officer imposed a penalty to…

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