Tag: penalty u/s 270A

Penalty u/s 270A can not be levied for additions made on estimation basis. Penalty on the basis of findings in quantum proceedings not independently examined can not be sustained. ABCAUS Case Law Citation:ABCAUS 3861 (2024) (02) ITAT Important Case Laws relied upon by parties:Jai Balaji Business Corporation Pvt. …

CIT(A) has no jurisdiction to allow or reject claim of immunity from penalty u/s 270AA – ITAT In an important judgment ITAT has held that First Appellate Authority has no jurisdiction to enter into the question of allowing or rejecting claim of the immunity from imposition of penalty …

Merely because assessee accepted disallowance made by Assessing Officer, it cannot automatically lead to conclusion that assessee under reported income under Section 270A – ITAT  ABCAUS Case Law Citation:ABCAUS 3746 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in …

Penalty u/s 270A can not be imposed without first disposing application in Form No. 68 for immunity from penalty ABCAUS Case Law Citation:ABCAUS 3664 (2023) (02) ITAT In the instant case, the appellant assessee had challenged the order passed by the Commissioner of Income Tax (Appeals), National Faceless …