Case Law Details
Case Name : Sunrise Broking P. Ltd. Vs ITO (ITAT Ahmedabad)
Related Assessment Year : 2014-15
Courts :
All ITAT ITAT Ahmedabad
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Sunrise Broking P. Ltd. Vs ITO (ITAT Ahmedabad)
In the case of Sunrise Broking P. Ltd. Vs ITO, the ITAT Ahmedabad has ruled in favor of the appellant, deleting a penalty levied due to additions made to interest on income tax refund. The ITAT concluded that there was no concealment or inaccuracy in the reported income particulars, leading to the abolition of the penalty.
The initial penalty under section 271(1)(c) of the Act was charged due to two main additions to the income of the appellant: Expenses incurred in rela
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