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No 271(1)(c) Penalty Without Willful Concealment or Furnishing Inaccurate Details
Case Law Details
- Case Name
- Eureka Outsourcing Solutions Pvt. Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Eureka Outsourcing Solutions Pvt. Ltd. Vs DCIT (ITAT Mumbai)
In a significant judgment, the Income Tax Appellate Tribunal (ITAT) in Mumbai has set a precedent by deleting the penalty levied under section 271(1)(c) of the Income Tax Act, 1961, against Eureka Outsourcing Solutions Pvt. Ltd. for the Assessment Year 2015-16. The tribunal’s decision underscores the principle that making an incorrect claim does not tantamount to furnishing inaccurate particulars of income.
Case Background: Eureka Outsourcing Solutions Pvt. Ltd. faced a penalty of Rs.3,39,616 under section 271(1)(c) for allege...
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