Bonafide Human Errors should be demonstrated with Circumstantial Evidence: ITAT upholds Penalty [Read Order]

While dismissing an appeal filed by Swift Knit Pvt.Ltd, the Income Tax Appellate Tribunal (ITAT) Ahmedabad bench has held that in order to avoid penalty under section 271(1)(c) of the Income Tax Act, the assessee should prove the defense of bonafide mistake/ errors with circumstantial evidence.  “The only statement made is that it was a […]

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