Relief to Jaypee Cement: ITAT deletes Penalty of Rs.132 Cr. imposed for Misreported Income due to mistake of Tax Auditor [Read Order]

By Aparna. M - On October 2, 2023 8:30 pm - 3 mins read

Relief to Jaypee Cement - ITAT deletes Penalty - imposed for Misreported Income due to mistake of Tax Auditor - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Delhi bench deleted the penalty of Rupees 132 crore imposed on Jaypee Cement for misreporting of income by the tax auditor in the tax return. Assessee Jaypee Cement is engaged in the business of manufacturing and sale of cement, manufacturing and sale of asbestos sheets, heavy engineering workshop and…

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