No Penalty for Excessive Depreciation Claim Due to bona fide Mistake

DCIT Vs Sasan Power Ltd (ITAT Mumbai) In a recent decision by the Income Tax Appellate Tribunal (ITAT) Mumbai, the case of DCIT vs. Sasan Power Ltd for Assessment Year 2017-18 has brought to light the complex interplay between tax laws and the treatment of excessive depreciation claims. This article provides an in-depth analysis of the case, discussing the facts, arguments presented by both parties, and the ultimate ruling by the tribunal. Introduction: The dispute revolves around the imposition of a penalty under section 270A of the Income Tax Act, 1961, by the Assessing Officer (AO) on Sasa...