Section 271(1)(c) Penalty Fails When AO Accepts Reopened Return

Smt. Himani Goyal Sharma Vs DCIT (ITAT Amritsar)

Return witdarwing the claim in the orininal return- No Penalty Where Income Declared in Reassessment Is Accepted:

The Amritsar Bench of the ITAT allowed the assessee’s appeals for AYs 2011-12 to 2015-16 and deleted penalties levied under section 271(1)(c), which had been partially sustained by the CIT(A). The Tribunal noted that although the assessments were reopened, the assessee filed re

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