Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]

Penalty - IT Act - Concealment of Income or Filing of Inaccurate Particulars of Income - Concealment of Income - Income - Filing of Inaccurate Particulars of Income - Particulars of Income - ITAT - Taxscan

The Dehradun bench of the Income Tax Appellate Tribunal ( ITAT) held that the penalty imposed under section 271(1)(c ) of the Income Tax Act,1961 without proving either concealment of income or filing of inaccurate particulars of income is invalid. Saraswati Dynamics Pvt. Ltd, the appellant assessee filed the appeal against the order passed by…

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