Penalty for misreporting of income cannot be imposed in case there is no malafide intention: ITAT Delhi M/S PRANAV VIKAS INDIA PVT. LTD (ITA NO. 1218/Del/2024) Facts: 1. The Assessing Officer (AO) imposed a penalty of Rs. 1,09,39,526/- on the assessee for allegedly misreporting income by claiming a higher deduction under Section 35(2AB) of…
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