Disallowance Isn’t Misreporting – ITAT Pune Deletes Penalty u/s 270A on PF & ESIC Delay

Jetsynthesys Private Limited Vs DCIT (ITAT Pune)

Assessee company faced a penalty of ₹2.74 lakh u/s 270A(9) for alleged misreporting of income relating to disallowance of delayed employee’s PF & ESIC payments. AO treated the disallowance as “misreporting”, & CIT(A)/NFAC confirmed it, relying on Checkmate Services Pvt. Ltd. v. CIT (SC, 2022).

Before ITAT, Assessee contended that the claim was based on prevailing High Court decisions (including Ghatge Patil Transport Ltd., Bombay HC) which permitted deduction if payment

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