HARISH NARINDER SALVE vs ACIT

Authority: ITAT Tribunal/Court: Delhi Date: 2017-09-21 AY: 2010-11 Section: 271(1)(c) Acts: Income Tax Act 1961 Result: Assessee Citation: 917Taxpundit216 Justices: H. S. SIDHU JM & L.P. SAHU AM Appeal No: I.T.A. No. 100/Del/2015
Whether penalty under section 271(1)(c) of the Income Tax Act 1961 can be levied for disallowance of depreciation on a Bentley car and omission to add back loss on fixed assets due to inadvertent error --- Held No.

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