This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 271(1)(c) Penalty deleted Due to Bona Fide Claim on Lease Premium Deduction
Case Law Details
- Case Name
- Small Industries Development Bank of India Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Small Industries Development Bank of India Vs DCIT (ITAT Mumbai)
The Income Tax Appellate Tribunal, Mumbai, adjudicated appeals challenging penalty orders imposed under Section 271(1)(c) of the Income-tax Act, 1961 for assessment years 2014–15 and 2015–16. The penalties arose from disallowance of a claim relating to proportionate amortisation of lease premium paid to the Mumbai Metropolitan Regional Development Authority, which was treated as capital expenditure during assessment proceedings. The Assessing Officer levied penalty on the disallowance, and the Commissioner of...
Author Info
