PF contributions deposited late? Can the income tax department impose a penalty on your employer? ITAT clarifies
Mint ·
ITAT Ahmedabad has deleted a ₹4.42 lakh penalty imposed on Nascent Info Technologies for misreporting income after disallowance of ₹7.16 lakh in delayed employees' PF and ESI contributions. The tribunal said disallowance alone does not establish misreporting.