Order of AO can be challenged before CIT(A), Not ITAT – Appeal Dismissed

BLPL Singapore Pvt Ltd Vs DCIT (ITAT Mumbai) BLPL Singapore Pvt Ltd has filed an appeal against the Assessing Officer’s order under Section 270A of the Income Tax Act, 1961 for the Assessment Year 2018-19. The appeal pertains to the non-disclosure of interest income while computing the total income for taxation purposes. Analysis: The Assessing Officer added Rs. 3,51,94,864/- to the total income and taxed it at 15% based on the Double Taxation Avoidance Agreement (DTAA) with Singapore. A penalty of Rs. 26,39,615/- was levied under Section 270A for the non-disclosure of interest income. T...