Patna ITAT quashes Section 270A Penalty for Lack of Timely Immunity Order

Sangam Almirah Private Limited Vs NFAC (ITAT Patna) The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, allowed the appeal of Sangam Almirah Private Limited, cancelling the penalty levied under section 270A of the Income Tax Act, 1961, for the Assessment Year 2018-19. The penalty of ₹1,95,048/- was imposed after the Assessing Officer (AO) made an addition of ₹3,80,091/- to the company’s income. This addition resulted from the disallowance of certain expenditure (related to Provident Fund and ESI for a three-month period) which belonged to a preceding proprietorship business but was ...