ITAT Confirms 270A Penalty When Undisclosed Receipts Detected During Survey

Rajendra Chandrakant Chinchnikar Vs ACIT (ITAT Pune)

Tribunal confirmed the Penalty for misreporting of income u/s 270A on the income declared During Survey

Summary: The Pune of the Income Tax Appellate Tribunal dismissed an appeal of the assessee upholding a penalty of ₹ 35.92 lakh under Section 270A on the professional receipts detected during a tax survey. The Tribunal held that the assessee’s revised return, filed only after the survey identified unaccounted cash receipts, did not constitute voluntary disclosure. The penalty was sust

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