No Section 271(1)(c) Penalty if no Variation in Returned & Assessable Income

Meera Anirudha Mirgunde Vs ITO (ITAT Pune) Introduction: In the case of Meera Anirudha Mirgunde Vs ITO, the Income Tax Appellate Tribunal (ITAT), Pune, has ruled that no penalty under section 271(1)(c) of the Income Tax Act can be imposed when there is no variation between the returned and assessable income. This decision challenges the order of the National Faceless Appeal Centre (NFAC), Delhi, which had imposed a penalty on the appellant. Analysis: The appeal by the assessee revolved around whether the NFAC was justified in imposing a penalty in the circumstances of the case. The Tribunal no...