Every transfer pricing addition is deemed to represent concealed income, says ITAT
Last updated: 29 June 2021
Court :
ITAT Pune
Brief :
This appeal by the Revenue is directed against the order passed by the ld. CIT(A) on 23-01-2017 deleting penalty of Rs.1,48,40,838/- imposed by the Assessing Officer (AO) by invoking Explanation 7 to section 271 (1)(c) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) in relation to the assessment year 2005-06.
Citation :
ITA No.845/PUN/2017
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Published in Income Tax
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