Voluntary Deposit of tax shall not be considered as Admission of Guilt before receiving notice u/s 148 of Income Tax Act: ITAT deletes penalty u/s 271 (1) (c) I.T. Act [Read Order]

Voluntary Deposit of tax considered as Admission of Guilt before receiving notice - Income Tax Act - ITAT deletes penalty - I.T.Act - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that voluntary deposit of tax should not be considered as admission of guilt before receiving notice under Section 148 of the Income Tax Act, 1961. Hence, the bench deleted the penalty imposed under Section 271(1) of the Income Tax Act, 1961. Pradip Burman, the…

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