Imposition of penalty u/s. 271(1)(c) for highly debatable issue not justified: ITAT Bangalore

Hubli Saraku Vs ITO (ITAT Bangalore)

ITAT Bangalore held that imposition of penalty under section 271(1)(c) of the Income Tax Act not justified where the issue is highly debatable because there is no question of levying penalty for furnishing inaccurate particulars of income.

Facts- Assessee is a credit cooperati

Please become a Premium member. If you are already a Premium member, login here to access the full content.