200% Sec 270A Penalty Invalid for Failure to Specify Misreporting Limb: ITAT Delhi

S S R S MEM EDU Society Vs ACIT (ITAT Delhi)

ITAT Delhi Quashes Sec 270A Penalty – Failure to Specify Misreporting Limb Makes 200% Penalty Invalid

In SSRS MEM EDU Society vs ACIT (AY 2018-19), the ITAT Delhi allowed the assessee’s appeal and deleted penalty levied u/s 270A. The AO had imposed penalty @200% of tax payable alleging misreporting of income; however, the Tribunal noted that neither the assessment order nor the penalty order specified the exact limb of “m

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