Case Law Details
Case Name : D. C. Polyester Limited Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Mumbai
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D. C. Polyester Limited Vs DCIT (ITAT Mumbai)
Introduction: D.C. Polyester Limited recently secured a noteworthy victory in its appeal against the imposition of a penalty under Section 271(1)(c) of the Income Tax Act. The Income Tax Appellate Tribunal (ITAT) Mumbai, in its order dated August 25, 2023, emphasized that penalties cannot be imposed solely on the grounds of wrong treatment to the head of income.
Detailed Subheading-Wise Analysis:
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