Failure to file return u/s. 139(1) doesn’t constitute under-reporting within section 270A(2)(b): Penalty deleted

Ishit Kamleshbhai Sheth Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that mere filing of return in response to notice u/s. 148 does not ipso facto justify the invocation of section 270A(2)(b), unless there is a demonstrable act of under-reporting in substance. Thus, penalty deleted as failure to furnish return u/s. 139(1) doesn’t constitute under-reporting. Facts- The assessee is an individual deriving income from salary and other sources, primarily from employment with M/s Tech Mahindra Ltd. for the relevant financial year. This appeal has been preferred by the assessee against the order dat...