ITAT Deletes Penalty on Excess Depreciation Claim, Holds Bona Fide Claim Cannot Attract Section 271(1)(c):
The ITAT Mumbai holds that a bona fide depreciation claim made on the basis of then-existing assessment orders cannot be treated as concealment or furnishing of inaccurate particulars merely because subsequent appellate orders altered the tax position.
Penalty for Excess Depreciation Unsustainable If Disallowance Arose Due to Subsequent Appellate Relief
Saloni Kumari
Jun 2, 2026
Premium
ITAT Deletes Penalty on Excess Depreciation Claim, Holds Bona Fide Claim Cannot Attract Section 271(1)(c)
The ITAT Mumbai holds that a bona fide depreciation claim made on the basis of then-existing assessment orders cannot be treated as concealment or furnishing of inaccurate particulars merely because subsequent appellate orders altered the tax position.
Also Read
ITAT Allows Additional Evidence in Cash Deposit CaseITAT Deletes Penalty Under Section 271(1)(c) on Estimated IncomeITAT Sets Aside CIT(A)'s Ex Parte Order in Rs 1.78 Crore Bogus Derivative Loss Dispute After Finding Need for Fresh HearingITAT Deletes Rs 4.42 Lakh Penalty, Says PF and ESI Disallowance Does Not Amount to Misreporting
About Author
Saloni Kumari
Content Writer
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
StudyCafe
Delhi, Delhi, India
2998My Recent Articles
- Avathon and SparkCognition Withdraw Arbitration Proceedings Against Aditya Infotech After Mutual Discussion
- CBIC Orders Interim GST Reforms: No Arrests, Limited E-Way Bill Checks and Rs 10,000 SCN Limit
- GST Council Releases Minutes Book and Agenda Notes (Volumes I & II) of 56th GST Council Meeting
- Petronet LNG Moves Gujarat High Court Challenging Rs 283.72 Crore GST Show Cause Notice on Use or Pay Charges
- ITAT Sets Aside CIT(A)'s Ex Parte Order in Rs 1.78 Crore Bogus Derivative Loss Dispute After Finding Need for Fresh Hearing
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts