The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that when the quantum addition is deleted by the appellate authorities, the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961 for the said quantum addition cannot be survived. The Assessing Officer made an addition of Rs. 3,75,13,010/- under Percentage Completion […]
The post When Quantum Addition deleted, Consequent Penalty can’t Survive: ITAT appeared first on Taxscan | Simplifying Tax Laws.
from Taxscan | Simplifying Tax Laws https://ift.tt/2TFnfUQ
No comments:
Post a Comment