No Penalty under Income Tax Act in Absence of Concealment of Income: Delhi HC upholds Order of ITAT [Read Order]

By Yogitha S. Yogesh - On November 4, 2023 10:54 am - 2 mins read

No Penalty under Income Tax Act -Penalty - Absence of Concealment of Income - Delhi Highcourt - Order of ITAT - taxscan

The Delhi High Court ruled that no penalty under the Income Tax Act, 1961 in the absence of concealment of Income and upheld the order of the Income Tax Appellate Tribunal (ITAT). The appellant/revenue seeks to assail the order dated 21.07.2020 passed by the Income Tax Appellate Tribunal [“Tribunal”] which was in favour of respondent-assessee,…

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