Penalty imposed u/s 271(1)(c) shall not survive if the matter is restored to AO for passing Rectification Order: ITAT [Read Order]

Penalty - Penalty imposed - AO for passing Rectification Order - passing Rectification Order - Rectification Order - ITAT - Taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 shall not survive if the matters are restored to the assessing officer for passing rectification order. The assessee filed the above appeal against the order of NFAC relating to…

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