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
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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.
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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].
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