No Addition, No Under-Reporting: ITAT Deletes Section 270A Penalty When Income Returned u/s 148 Was Fully Accepted

Ashutosh Dubey Vs ITO (ITAT Pune) No Addition, No “Under-Reporting” – ITAT Deletes Section 270A Penalty When Income Returned u/s 148 Was Fully Accepted The Pune Bench of the Income Tax Appellate Tribunal in the case of Ashutosh Dubey vs ITO held that penalty u/s 270A for under-reporting of income cannot survive when the income declared by the assessee in response to notice u/s 148 was accepted without any addition by the AO. In this case, the assessee had not originally filed the return u/s 139(1). Based on information in Form 26AS, the AO issued notice u/s 148, pursuant to which the...