No Section 270A Penalty for Misreporting Income Due to Short TDS Deduction on Additional Salary

Suresh Rao Vs ITO (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) in Ahmedabad addressed an appeal filed by Suresh Rao against a penalty levied under Section 270A of the Income Tax Act, 1961. The core issue centered on whether a penalty for misreporting income was justified when the assessee, a salaried individual, filed a return and paid the outstanding taxes after receiving a notice under Section 148. The assessee had not initially filed a return for the assessment year 2018-19, despite having substantial income reflected in TDS statements. Subsequently, a notice was issued, prompt...