Taxcharcha
Income TaxIncome TaxIncome TaxLatestRecent Case LawsTax

No penalty to be levied u/s 271(1)(c) where the additions made by the AO is deleted – ITAT Delhi

M/S ADMACH AUTO LIMITED, ITA NO. 9543/DEL/2019

Held: 

The Hon’ble ITAT Delhi in its judgement held that “Since the Tribunal has deleted the addition made by the Assessing Officer and sustained by the CIT(A), therefore, the very basis on which penalty was levied does not survive” 

Related posts

ICAI representation on omission of “Accountant” from Rule 11UA

Team Taxcharcha

Income Tax Update – Treatment of TDS on online gaming, amendment in section 194N and amendment in Form 16 for AY 2024-25

Team Taxcharcha

No GST on free bank services. GST on Mutual funds exit loads. (Source – FAQs on Banking, Insurance and Stock broker sectors)

Team Taxcharcha