143 results for “penalty u/s 271”+ Section 5clear
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In the result, appeal filed by the Revenue is allowed for statistical purposes
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
u/s 36(1)(viia) of I.T. Act 1961 on account of non- provisions of the same in books of account. The relevant observations from the decision are reproduced herein under for reference. "Whether the Hon'ble ITAT has erred in law in deleting the penalty levied by the Assessing Officer under section 274 read with section Income Tax Act?" 271