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ITAT Rules on Income Tax Penalty for Late ITR Filing in Mumbai
The ITAT in Mumbai clarifies income tax penalties for late ITR filings. A ship captain's ₹3.95 lakh penalty was deleted after timely return submission. This case highlights the importance of filing ITRs and understanding TDS deductions, ensuring taxpayers know their rights.
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"Tax penalties can be confusing, but this ruling sheds light on your rights!"
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File ID: #409984Original Source: LiveMint Money ↗
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