ITAT Deletes Section 270A Penalty as Declared Income Accepted Without Additions

Sudarsan De Vs DCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) Delhi Bench, in a recent pronouncement on May 30, 2025, has set aside a penalty imposed under Section 270A of the Income Tax Act, 1961, against assessee Sudarsan De for Assessment Year 2018-19. The Tribunal ruled that no penalty for ‘under-reporting of income’ is warranted when the income declared in a belated return is fully accepted by the tax department without any additions. The case originated from the assessee’s failure to file the Income Tax Return (ITR) by the due date. Subsequently, on April 11...