Penalty u/s 270A - under-reporting of income - taxability of ...

October 30, 2023

Case Laws Income Tax AT

Penalty u/s 270A - under-reporting of income - taxability of interest - Immunity from imposition of penalty u/s 270AA - due to ongoing litigation about the taxability of the said income and misconception of law, the assessee claimed it as exempt. Nonetheless, the fact remains that the assessee filed revised return, offered the said income to tax during the course of assessment proceedings itself. - No penalty - AT

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Penalty u/s 270A - under-reporting of income - taxability of ...

October 30, 2023

Case Laws Income Tax AT

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