2023 (1) TMI 272

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..... r Ganesh, JCIT-DR ORDER PER GEORGE GEORGE K, JM : This appeal at the instance of the assessee is directed against CIT(A)'s order dated 12.11.2022. The order of the CIT(A) arises out of the order imposing penalty u/s 270A of the I.T.Act amounting to Rs.1,85,214. The relevant assessment year is 2018-2019. 2. The brief facts of the case are as follows: The assessee is a Co-operative Society enga .....

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..... e as to why the order imposing penalty u/s 270A of the I.T.Act should not be made in its case. In response, the assessee filed submission vide letter dated 20.11.2021, wherein it has been stated that the assessee had not claimed deduction u/s 80P of the I.T.Act with respect of interest income received from RECL. Further, it was submitted that there is no underreporting or misreporting of any incom .....

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..... CIT(A) confirming the penalty imposed u/s 270A of the I.T.Act, the assessee has filed the present appeal before the Tribunal. The learned Counsel for the assessee submitted that the assessee has not claimed any deduction u/s 80P(2)(d) of the I.T.Act with regard to interest income of Rs.3,09,697 received from RECL. Therefore, it was contended that the imposition of penalty u/s 270A of the I.T.Act i .....

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