ITAT Restores Penalty Proceedings to CIT(A) Following Quantum Restoration

Sarika Dadaso Zende Vs ITO (ITAT Pune) The Income Tax Appellate Tribunal (ITAT) Pune addressed an appeal filed by Sarika Dadaso Zende against the order of the Commissioner of Income Tax (Appeals) [CIT(A)], which had confirmed a penalty of 15,48,108 levied by the Assessing Officer under Section 270A of the Income Tax Act, 1961. The penalty was imposed for under-reporting of income, stemming from the assesses claim of deductions for statutory dues paid in the financial year 2019-2020. These dues, previously disallowed under Section 43B due to delayed payment, were re-claimed in a revised income ...