Mere Non-production of Parties won’t constitute ‘Concealment’: ITAT deletes Penalty

The Delhi bench of the Income Tax Appellate Tribunal (ITAT), while deleting a penalty order under section 271 (1) (c) of the Income Tax Act, held that mere non-production of parties before the Assessing Officer during the proceedings would not constitute ‘concealment’ for the purpose of imposing penalty. After the assessment proceedings were completed under […]

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