Levy of penalty u/s 270A - Failure to offer the interest on ...

Section 270A Penalty Not Imposed: Bona Fide Omission of Taxable Interest on Income Tax Refund Deemed Valid Explanation.

September 16, 2023

Case Laws Income Tax AT

Levy of penalty u/s 270A - Failure to offer the interest on income tax refund subject to tax - the explanation of the assessee for not offering the interest on income tax refund while filing its return of income is bona fide, and thus, the non-declaration of interest on income tax refund cannot be said to be under-reporting of income by the assessee within the meaning of section 270A of the Act. - AT

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Levy of penalty u/s 270A - Failure to offer the interest on ...

Section 270A Penalty Not Imposed: Bona Fide Omission of Taxable Interest on Income Tax Refund Deemed Valid Explanation.

September 16, 2023

Case Laws Income Tax AT

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