Non-Payment Under IDS Makes U/s 271AAC Penalty Inevitable

Nandu Atmaram Wajekar Vs ACIT (ITAT Pune) IDS Default Comes Back to Bite: ITAT Pune Upholds ₹69.54 L Penalty u/s 271AAC Declare, But Don’t Pay? IDS Shield Lost, 271AAC Penalty Sustained In Nandu Atmaram Wajekar vs. ACIT, Panvel (ITA No.67/PUN/2025, AY 2017-18; order dated 29-12-2025), the Pune Bench “A” of ITAT dismissed the Assessee’s appeal and upheld penalty of ₹69,54,070 levied u/s 271AAC(1) of the Income-tax Act. The Assessee had declared undisclosed income of ₹11.59 crore under Income Declar ation Scheme (IDS), 2016, but failed to pay tax, surcharge & penalty within the...