Taxpayer Underreports Income by Claiming Inadmissible Expenses: ITAT Confirms Penalty [Read Order]

The tribunal highlighted that the explanation for underreporting was not accepted due to no supporting evidence being furnished
By Franklin Joshva - On March 31, 2025 12:16 pm - 2 mins read
Penalty - Taxpayer - ITAT Confirms Penalty - Taxscan

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, against the assessee for underreported income by claiming inadmissible expenses.  M/s. Rukmani Engineering Works (now known as Rukmani Infra Projects Pvt. Ltd.), (assessee) engaged in executing works contracts, filed its…

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