Penalty Deleted as 14A Addition Removed: Tribunal Finds No Basis for 270A Levy

Extensive Trading Pvt Ltd Vs ITO (ITAT Delhi)

No Exempt Income, No 14A, No Penalty -When Quantum Addition Falls, 270A Penalty Cannot Survive—ITAT Delhi Quashes Penalty

Tribunal considered penalty of ₹19,51,100 levied by AO u/s 270A. The penalty was based on disallowance u/s 14A. Assessee submitted that Tribunal, in its quantum appeal ITA 625/Del/2025 dated 14.05.2025, had already deleted the 14A disallowance by holding that the Finance Act 2022 amendment inserting a

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