Taxpayer left ₹38 lakh income out of ITR, paid ₹19.89 lakh tax later; why ITAT cancelled the ₹23.94 lakh penalty(Soban News)

A Mumbai ITAT ruling has deleted a ₹23.94 lakh penalty imposed on a taxpayer who had omitted ₹38.37 lakh of cash deposits from his original ITR but disclosed the income during scrutiny and paid the tax due. 

​A Mumbai ITAT ruling has deleted a ₹23.94 lakh penalty imposed on a taxpayer who had omitted ₹38.37 lakh of cash deposits from his original ITR but disclosed the income during scrutiny and paid the tax due.  by Soban News (international And National News)