Tag: bona fide belief

Tax Authorities should charge legitimate taxes from the taxpayers instead of punishing the assessees for their bonafide mistakes – ITAT In a recent judgment, ITAT Chandigarh has deleted addition made by the AO criticised him of miserably failing to perform his duties and in assessing the true and …

Penalty u/s 271B not leviable as assessee was under bona fide belief that he was not subject to tax audit In a recent judgment, the ITAT Agra has deleted Penalty u/s 271B where the assessee was under the bona fide belief that he was not subject to tax …