No penalty on non-disclosure of interest on tax refund: ITAT ...Middle East

The Mumbai Income Tax Appellate Tribunal (ITAT) has ruled in favor of a senior citizen by stating that the penalty imposed for not disclosing the interest earned on her tax refund is not valid. The ITAT emphasized that the interest element cannot be determined unless the refund is received, and therefore, non-disclosure cannot be considered as underreporting of income.

Hence then, the article about no penalty on non disclosure of interest on tax refund itat was published today ( Saturday 14/10/2023 - 04:12 AM ) and is available on The Times of India ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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