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ITAT Deletes Section 271(1)(c) Penalty for Leave Encashment Disallowance
Case Law Details
- Case Name
- Intervalve Poonawalla Pvt. Ltd Vs DCIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
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Intervalve Poonawalla Pvt. Ltd Vs DCIT (ITAT Pune)
Income Tax Appellate Tribunal (ITAT), Pune Bench, has set aside a penalty of Rs. 3,59,646 levied under Section 271(1)(c) of the Income Tax Act, 1961, against Intervalve Poonawalla Pvt. Ltd. The penalty pertained to a disallowance of Rs. 11,08,482 claimed as provision for leave encashment for the assessment year 2014-15. The Tribunal’s decision, pronounced on June 4, 2025, underscored that merely making a claim, even if ultimately unsustainable, does not amount to concealment or furnishing inaccurate particulars if full disclosures are ma...
