Claim of Expenditure under different Head of Income won’t attract Penalty: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 will not attract merely because the assessee claimed expenditure under a different head of income. The income tax return filed by the assessee was rejected by the Assessing Officer by holding that the […]

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