Penalty cannot be imposed merely because AO did not allow claim of Assessee

Advocate Akhilesh Kumar Sah

Merely the claim of deduction did not find favour of the AO would not justify imposition of penalty under section 271(1)(c): Aristo Pharma case

Recently, in Aristo Pharmaceuticals Pvt. Ltd. vs. ACIT [ITA No.6680/Mum/2012 with ITA No.5553/Mum/2014 and ITA No.5479/Mum/2015, A.Y.: 2009-10

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