ITAT Ahmedabad: 270A Penalty Proceedings Set Aside as Quantum Appeal Restored for Fresh Adjudication

Ketan Priyavadan Shah Vs ITO (ITAT Ahmedabad) In the case before the Tribunal, Assessee had challenged a penalty levied u/s 270A, following what was alleged as “under-reporting of income” for assessment year 2020-21. The penalty order was confirmed by CIT(A) (NFAC) on 30 June 2025, amounting to ₹ 13,86,849. AO had initiated penalty proceedings and imposed the penalty based on the quantum of income determined in the assessment. However, when the matter came before the Tribunal, it was noticed that the quantum appeal (ITA No. 734/Ahd/2025) for the same assessment year had already been rest...