ITAT Deletes Section 270A Penalty as AO Failed to Identify Correct Default

Advertisement Tasavver Husain Vs ACIT (ITAT Agra) The Agra Bench of the Income Tax Appellate Tribunal (ITAT) allowed both appeals filed by the assessee against separate orders of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), confirming penalties under Sections 270A and 272A(1)(d) of the Income-tax Act for Assessment Year 2017-18. Penalty under Section 270A The first appeal concerned a penalty of Rs. 19,381 levied under Section 270A for under-reporting of income. The Assessing Officer (AO) held that the assessee had under-reported income derived from opera...