Penalty U/s 270A Set Aside as U/s 270AA Immunity Denied Due to Form 68 Glitch – ITAT Remands Case

Meda Lakshminarayana Setty Vs ITO (ITAT Bangalore) Immunity U/s 270AA Cannot Be Denied Due to Technical Glitch in Filing Form 68 – Penalty U/s 270A Set Aside & Matter Remanded – ITAT Bangalore The assessee did not file the original return u/s 139(1). Based on information available on the portal regarding salary, property sale and interest income, reassessment proceedings were initiated u/s 148. In response, the assessee filed the return declaring income and the AO completed assessment with an addition of ₹16.11 lakh, determining total income at ₹22.61 lakh and initiated pen...