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TMI Blog2023 (12) TMI 1266X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessing authority while examining the application u/s 270AA cannot sit in appeal against its own assessment order to record a different finding than what was recorded in the assessment order. The assessing officer cannot examine the correctness or otherwise of the assessment order while examining the application u/s 270AA of the Act seeking immunity from imposition/payment of penalty, etc. If there is a specific finding recorded in the assessment order that the assessee had underreported the income by misrepresenting the facts in the return of its income, then the application u/s 270AA of the Act would not be maintainable, in view of the express bar under Section 270A of the Act. We do not find that the impugned order rejecting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 270A and initiation of proceedings under section 276C or section 276CC, if he fulfils the following conditions, namely: (a) the tax and interest payable as per the order of assessment or reassessment under sub-section (3) of section 143 or section 147, as the case may be, has been paid within the period specified in such notice of demand; and (b) no appeal against the order referred to in clause (a) has been filed. (2) An application referred to in subsection (1) shall be made within one month from the end of the month in which the order referred to in clause (a) of subsection (1) has been received and shall be made in such form and verified in such manner as may be prescribed. (3) The Assessing Officer shall, s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under: 270A. Penalty for under-reporting and misreporting of income.- xxx xxx xxx (9) The cases of misreporting of income referred to in sub-section (8) shall be the following, namely: (a) misrepresentation or suppression of facts; (b) failure to record investments in the books of account; (c) claim of expenditure not substantiated by any evidence; (d) recording of any false entry in the books of account; (e) failure to record any receipt in books of account having a bearing on total income; and (f) failure to report any international transaction or any transaction deemed to be an international transaction or any specified domestic transaction, to which the provisions of Chapter X apply. 6. On a perusal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. The assessing authority while examining the application under Section 270AA of the Act cannot sit in appeal against its own assessment order to record a different finding than what was recorded in the assessment order. The assessing officer cannot examine the correctness or otherwise of the assessment order while examining the application under Section 270AA of the Act seeking immunity from imposition/payment of penalty, etc. If there is a specific finding recorded in the assessment order that the assessee had underreported the income by misrepresenting the facts in the return of its income, then the application under Section 270AA of the Act would not be maintainable, in view of the express bar under Section 270A of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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