ITAT deletes Section 271(1)(c) penalty for Non-application of mind

Suchit Arvindbhai Patel Vs ITO (ITAT Ahmedabad) The crux of the matter lies in the assertion by the taxpayer’s representative that there was neither concealment of income nor furnishing of inaccurate particulars. The argument extends to the taxpayer’s status as a non-resident Indian (NRI) during the relevant year, thus absolving them of any tax liability. ITAT Ahmedabad’s scrutiny reveals a crucial oversight by both the Assessing Officer and the CIT(A). Neither authority duly considered the taxpayer’s status for the assessment year in question. Moreover, the fact that t...