Section 271(1)(c) penalties leviable only in clear cases of income concealment or inaccurate reporting

Harson Labs Pvt. Ltd. Vs ACIT (ITAT Ahmedabad)

Introduction: Harson Labs Pvt. Ltd. faced penalties under Section 271 of the Income Tax Act for alleged concealment of income and furnishing inaccurate particulars. This article delves into the case of Harson Labs vs. ACIT, where the Income Tax Appellate Tribunal (ITAT) Ahmedabad made a crucial decision regarding these penalties for Assessment Year 2015-16.

Detailed Analysis:

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