Notice for penalty u/s 274 of Income Tax Act proceedings is initiated against inaccurate particulars of income not for Concealment of Income: ITAT deletes Penalty 9 [ Read Order]

By Aparna. M - On November 6, 2023 12:48 pm - 2 mins read

Notice- penalty - Income Tax Act proceedings - inaccurate - income - Concealment - Income-ITAT - Penalty-TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Pune bench held that notice for penalty under Section 274 of the Income Tax Act, 1961 proceedings is initiated against inaccurate particulars of income not for the concealment of the income .Therefore the bench deleted the penalty imposed under section 271(1)(c) Income Tax Act, 1961. Shivaji Dattatray Sonawane, the…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics