Penalty on Disallowance u/s 24a of Income Tax Act can’t be imposed on ground of Wrong treatment to head of Income: ITAT [Read Order]

Penalty - Disallowance - Income- Tax -Act - ground - Wrong- treatment - Income-ITAT-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty on disallowance under Section 24a of the Income Tax Act, 1961 cannot be imposed merely on the ground of wrong treatment made to the head of the Income. The bench observed that the assessee giving a wrong statement last year does…

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