ITAT Kolkata Rules No Penalty Under Section 271(1)(c) if Addition Deleted

Kalna II CADP Farmers Service Co-Op. Society Limited Vs ITO (ITAT Kolkata)

In a significant ruling by the Income Tax Appellate Tribunal (ITAT) Kolkata, the case of Kalna II CADP Farmers Service Co-Op. Society Limited vs. ITO has set an important precedent regarding penalties under Section 271(1)(c) of the Income Tax Act. The tribunal’s decision, dated April 27, 2023, highlights that no penalty under this section can be imposed if the addition, which formed the basis for computing the penalty, has been deleted by the ap

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