ITAT deletes section 271F Penalty for Bona Fide ITR Filing Delay

Mukesh Pathak Vs ITO (ITAT Jaipur) Introduction: The Income Tax Appellate Tribunal (ITAT), Jaipur recently ruled in favor of Mukesh Pathak in a case against the Income Tax Officer (ITO), deleting a penalty for the appellant’s failure to file an Income Tax Return (ITR) within the stipulated time. The tribunal saw this as a bona fide mistake and noted that the revenue had not incurred any loss as the proper tax had already been paid. Analysis: Mukesh Pathak was levied with a penalty of Rs. 5,000 by ITO under Section 271F for not filing his ITR within the prescribed limit as per Section 139...