No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]

Variation in Returned Income and Assessable Income - Returned Income - Assessable Income - Income Tax - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT) Pune Bench ruled that no penalty shall be levied when no variation is found in returned income and assessable income. Meera Anirudha Mirgunde, the taxpayer filed the appeal against the order passed by the National Faceless Appeal Centre for assessment year 2012-13. After filing the return of income, it…

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