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No penalty if contention of assessee was plausible and bona fide: Delhi HC
Case Law Details
- Case Name
- New Holland Tractors (India) Private Limited Vs CIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1996-97
- Courts
- All High Courts, Delhi High Court
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New Holland Tractors (India) Private Limited Vs Commissioner Of Income Tax, Delhi-V (Delhi High Court)
In a significant ruling, the Delhi High Court in the case of New Holland Tractors (India) Private Limited Vs Commissioner Of Income Tax, Delhi-V, addressed the critical issue of penalties under Section 271(1)(c) of the Income Tax Act, 1961. The court examined whether the assessee’s conduct was bona fide and whether plausible legal interpretations shielded them from penalties for concealment or furnishing inaccurate particulars of income.
1. Primary Issue: Bona Fide Conduct
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