The Delhi High Court analyzed the levy of penalty u/s 270A for ...

Levy of penalty u/s 270A - Immunity granted as under-reporting/misreporting not proven. SCNs vague. Application for immunity valid.

Case Laws Income Tax

June 5, 2024

The Delhi High Court analyzed the levy of penalty u/s 270A for under-reporting and misreporting of income. The court emphasized that under-reporting and misreporting are distinct offenses. The assessment orders lacked specifics on the alleged transgressions, rendering penalty proceedings unjustified. The court criticized the vague Show Cause Notices (SCNs) for failing to specify under-reporting or misreporting charges, violating legal principles. The court ruled that immunity u/s 270AA cannot be denied without clear misreporting findings. Since the petitioner met the statutory requirements for immunity, the rejection of the application was deemed unsustainable. The court quashed the orders rejecting the immunity application, finding them legally unsound.

View Source

← Previous Next →

The Delhi High Court analyzed the levy of penalty u/s 270A for ...

Levy of penalty u/s 270A - Immunity granted as under-reporting/misreporting not proven. SCNs vague. Application for immunity valid.

Case Laws Income Tax

June 5, 2024

You may also like:

Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

Penalty u/s 270A - immunity u/s 270AA - misreporting of income - there is not even a whisper as to which limb of Section 270A of the Act is attracted and how the...

The Appellate Tribunal considered two issues: Penalty u/s 271(1)(c) and u/s 270A. For the first, the Tribunal found the penalty notice defective as it did not specify...

immunity from imposing penalty u/s 270AA - Penalty u/s 270A for failure to file the return of income (ITR) - Under Section 270 AA of the Income Tax Act, immunity from...

Penalty levied u/s 270A - misreporting of income - Since AO failed to bring the addition/disallowance he made in quantum assessment, under the ken of (a) to (f) of the...

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...

Penalty u/s 270A and 271AAB - Defective notice u/s 274 - under reporting of income - search and seizure operation - The Tribunal found that the penalty notices under...

Penalty u/s 270A - imposition of penalty for under-reporting and misreporting of income - an addition made on the basis of estimation cannot provide foundation for...

Levy of penalty u/s 270A r.w.s. 274 - misreporting of income on the addition of leave encashment - levy of penalty is not automatic on mere making addition, if the...

Penalty levied u/s 270A - misreporting of income un/s 270A(8) and 270A(9) or not - Assessee filed the ITR after search conducted on third party but before the due date...

Penalty u/s 270A - allegation of misreporting as per section 270A(9) - Penalty @200% in respect of excess claim of depreciation - The tribunal found that the...

The Appellate Tribunal considered the levy of penalty u/s 270A. The Assessing Officer (AO) imposed the penalty u/s 270A(9)(a) for misrepresentation of facts and...

Amendment of section 273A. - power to reduce or waive penalty, etc., in certain cases. - It is proposed to make a reference of section 270A in clause (ii) and in the...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - the cases of under-reported income falling under misreporting of income shall be...

Penalty u/s 270A for under-reporting income due to misreporting tuition fees - penalty notice did not specify subsection or clause, preventing assessee from responding -...

Quick Updates: