Section 271(1)(c) Penalty Appeal Requires Fresh Hearing After NFAC Order

New Mangalore Port Road Company Limited Vs DCIT (ITAT Delhi)

CIT(A) Erred in Dismissing Penalty Appeal as “Infructuous” After VSVS; Entire 271(1)(c) Penalty on Depreciation & Interest Disallowance Remanded for Fresh Adjudication -ITAT Delhi Sets Aside NFAC Order

Assessee, a BOT road developer, appealed against a ₹19.25 crore penalty levied u/s 271(1)(c) on two disallowances made in scrutiny assessment: (i) Depreciation on Toll Road – ₹60.67 crore & (ii)Interest Please become a Premium member. If you are already a Premium member, login here to access the full content.