M/s. Toyota Kirloskar Motor Private Limited, Bangalore Vs. The Deputy Commissioner Of Income Tax (LTU), Circle- 1, Bangalore

Last updated: 05 November 2020
Quick Summary
The Income Tax Appellate Tribunal (ITAT) Bangalore addressed an appeal by Toyota Kirloskar Motor Private Limited against a penalty imposed under Section 271(1)(c) of the Income Tax Act. The penalty stemmed from transfer pricing adjustments made during the assessment year 2006-07. The assessee argued that the penalty notice was invalid as it failed to specify whether the penalty was for concealing income or providing inaccurate particulars, a point supported by a Karnataka High Court ruling.

Court :
ITAT Bangalore

Brief :
This is an appeal by the Assesee against the order dated 11.12.2019 of the CIT(Appeals), Bengaluru-10, Bengaluru relating to assessment year 2006-07.

Citation :
ITA No.216/Bang/2020

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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