Case Law Details
Case Name : Delhi Building & Others Vs DDIT(E) (ITAT Delhi)
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Delhi
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Delhi Building & Others Vs DDIT(E) (ITAT Delhi)
Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has set aside penalties aggregating to over ₹40 crores imposed on the Delhi Building and Other Construction Workers Welfare Board. The Tribunal emphasized that compliance with the statutory requirement of specifying the exact limb under Section 271(1)(c) of the Income Tax Act, 1961, is mandatory while imposing a penalty.
The Income Tax Appellate Tribunal (ITAT) Delhi has set aside penalties levied against Delhi Building & Others for the Assessment Years 2007-08 and 2008-09. The pen...
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Author Bio
I beg to differ from the view that passbooks do not constitute books of account. Bank pass books, in my humble opinion, do constitute books of account as per section 2(12A) of the IT Act 1961. The definition-sub section is inclusive and not exhaustive .Regards.