Delhi HC Grants Section 270AA Immunity as Penalty Notice Failed to Specify Misreporting

Schneider Electric South East Asia (HQ) Pvt Ltd Vs ACIT (Delhi High Court) The Delhi High Court allowed the writ petition challenging the order dated 09.03.2022 passed under Section 270AA(4) of the Income-tax Act, whereby the petitioner’s application seeking immunity from penalty under Section 270A for Assessment Year 2018-19 had been rejected. The petitioner had also sought a direction for grant of immunity in respect of the income assessed through the assessment order dated 23.06.2021. The petitioner contended that the rejection order was barred by limitation under Section 270AA(4) as it w...