Penalty u/s 270A - “underreporting” of income - right to be ...

High Court Grants Immunity u/s 270AA for Underreported Income; Overturns Previous Section 270A Order.

April 23, 2022

Case Laws Income Tax HC

Penalty u/s 270A - “underreporting” of income - right to be granted immunity under Section 270AA - In the present case, the petitioner has satisfied the aforesaid conditions, inasmuch as, (i) the tax has been paid on the additions; (ii) appeal has undisputedly not been filed; and (iii) penalty (as would be evident from the penalty notice) has been initiated on account of “underreporting” of income. - the impugned order under Section 270A of the Act is set aside and the respondents are directed to grant immunity under Section 270AA - HC

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Penalty u/s 270A - “underreporting” of income - right to be ...

High Court Grants Immunity u/s 270AA for Underreported Income; Overturns Previous Section 270A Order.

April 23, 2022

Case Laws Income Tax HC

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