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In absence of communication of interest on IT Refund no penalty for not offering the same for tax
Case Law Details
- Case Name
- M/s Subhash Chander Sewa Vs Income Tax Officer (ITAT Amritsar)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Amritsar
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Admittedly there is a mistake committed by the assessee in not adding interest on the refund to his sources of income. There is no disputing the fact that the tax payer duly and diligently must necessarily in its return of income disclose all avenues of his income. The assessee in its defence has consistently maintained that the mistake has occurred as the information in regard to the said interest was not available in the public domain namely 26AS form of the assessee firm downloaded from the system and lack of any other intimation also available to the assessee from the Inco...
