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Penalty u/s 271(1)(c) Deleted – Bona Fide Computational Errors & Voluntary Disclosure During Assessment
Case Law Details
- Case Name
- Gopalkrishna Narla Rao Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Gopalkrishna Narla Rao Vs ITO (ITAT Mumbai)
Penalty u/s 271(1)(c) Deleted – Bona Fide Computational Errors & Voluntary Disclosure During Assessment
AO levied penalty of ₹6.17 lakh u/s 271(1)(c) alleging furnishing of inaccurate particulars, as assessee offered additional income during assessment. CIT(A) confirmed the penalty.
ITAT held:
• Additional income offered voluntarily during assessment
Assessee filed revised computation upon noticing errors
• Errors were bona fide & computational in nature
Double claim of housing loan interest
Incorrect head of...
Author Info
