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Retrospective Amendment Cannot Invite Section 270A Penalty: ITAT Ahmedabad
Case Law Details
- Case Name
- Koshambh Multitred Pvt. Ltd. Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Ahmedabad
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Koshambh Multitred Pvt. Ltd. Vs DCIT (ITAT Ahmedabad)
No Penalty on Disallowance of Education Cess – Retrospective Amendment Cannot Invite 270A Action: ITAT Ahmedabad
Ahmedabad ITAT , has held that penalty levied u/s 270A(2) t for underreporting of income on account of claim of deduction of education cess is not sustainable, since such claim was bona fide, backed by favourable High Court rulings, & later rendered inadmissible only by virtue of retrospective amendment by Finance Act, 2022.
Assessee had claimed deduction of education cess of ₹15,94,943/- in the return of...
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