Log In

| Recover password


Any claim for the loss made by way of letter during the course of assessment proceeding would not yield to any penalty if not allowed by the AO since held in (2013] 1 ITR (Trib)-OL 680 (ITAT[Del]. Affirming this order the DHC in [2013] 359 ITR 101 (Del) held that the threat of penalty cannot become a gag or haunt an assessee for making a claim which may be erroneous or wrong, when it is made during the course of the assessment proceedings.

Taxpayers may so choose to make bonafide claims during assessment proceedings even when not made earlier in the return of income without having to worry for penalty in the event these are disallowed. 

Leave a Reply

Your email address will not be published.

error: Do not copy the content of this website.