https://www.taxtmi.com/caselaws?id=757213 ITAT Delhi upheld CIT(Appeals) decision deleting penalty u/s 270A imposed due to difference between assessed and returned income. The difference arose from inadvertent error where auditors used book value instead of written down value for depreciation calculation in tax audit report. ITAT relied on HC precedent holding bona fide errors cannot justify penalty imposition. Revenue failed to prove assessee's case differently. Appeal decided against revenue, penalty deletion affirmed. en-us Thu, 08 Aug 2024 00:00:00 +0530 Sat, 17 Aug 2024 08:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757213 ITAT Delhi upheld CIT(Appeals) decision deleting penalty u/s 270A imposed due to difference between assessed and returned income. The difference arose from inadvertent error where auditors used book value instead of written down value for depreciation calculation in tax audit report. ITAT relied on HC precedent holding bona fide errors cannot justify penalty imposition. Revenue failed to prove assessee's case differently. Appeal decided against revenue, penalty deletion affirmed. Case-Laws Income Tax Thu, 08 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757213