Section 271(1)(c) Penalty Not Automatic for Wrong Claims; Requires Proof of Lack of Bona Fides

DCIT Vs Sarva Haryana Gramin Bank (ITAT Delhi)

Introduction: The Income Tax Appellate Tribunal (ITAT) Delhi recently issued an order in the case of DCIT vs. Sarva Haryana Gramin Bank concerning a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. This article provides an in-depth analysis of the case and the reasoning behind the ITAT’s decision.

Subheading 1: Background of the Case: Sarva Haryana Gramin Bank, the assessee, was subje

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