https://www.taxtmi.com/highlights?id=74905 Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT held that, assessee made bona fide mistakes in the computation of its total income while filing its original return of income, which were corrected by the assessee by filing the revised computation during the assessment proceedings. Thus it is is not a fit case for the levy of penalty u/s 271(1)(c). en-us Wed, 14 Feb 2024 07:15:01 +0530 Wed, 14 Feb 2024 07:15:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74905 Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT held that, assessee made bona fide mistakes in the computation of its total income while filing its original return of income, which were corrected by the assessee by filing the revised computation during the assessment proceedings. Thus it is is not a fit case for the levy of penalty u/s 271(1)(c). Highlights Income Tax Wed, 14 Feb 2024 07:15:01 +0530 https://www.taxtmi.com/highlights?id=74905