No Penalty Under Section 271AAC for Income disclosed Within Section 139 Timeframe

Rohit Khandelwal Vs AC/DCIT (ITAT Kolkata) No Penalty Under Section 271AAC Would Be Imposed When the Income under Section 68 to 69D Has Been Included in The Return and Return Has Been Filed within timeframe allowed Under Section 139(1) or Section 139(4). In the case of Rohit Khandelwal vs. AC/DCIT (ITAT Kolkata), the dispute centered around the imposition of a penalty under Section 271AAC of the Income Tax Act, 1961. The assessee, Rohit Khandelwal, filed an appeal against the order of the CIT(A), Patna-3, which upheld the penalty imposed by the Assessing Officer (AO) for the Assessment Year 20...