Monday 13 January 2014

Mere bona fide mistake of assessee leading to wrong claim of deduction won’t attract concealment pen

IT : Where there was no intentional furnishing of inaccurate particulars of income and it was only due to a bona fide mistake assessee claimed deduction of NPA provision under section 36(1)(viia), rejection of said claim would not result in levying penalty under section 271(1)(c)


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