No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty cannot be imposed if the assessee has disclosed full and true material facts for assessment. The income tax return filed by the assessee was rejected by the Assessing Officer. Subsequently, the officer issued a notice under section 148 of the […]

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