Understand penalties for under-reporting or misreporting income under Section 270A of the Income Tax Act. Fines range from 50% to 200% of tax due.
ITAT Jaipur partially allows Amit Product’s appeal in a bogus purchase case, reducing disallowance to 10% of Rs. 32.88 lakh.
CAAR Mumbai classifies EV VCU/PCU controllers. Ruling rejects 8537, 8543, 9032; classifies as parts under 87089900 (3/4 wheelers) & 87141090 (2 wheelers).
