Penalty u/s 270A unsustainable as non-declaration cannot be equated as underreporting of income

Kavita Jasjit Singh Vs CIT (ITAT Mumbai) ITAT Mumbai held that penalty under section 270A of the Income Tax Act unsustainable as non-declaration of interest on income tax refund was bona fide and cannot be said to be underreporting of income. Facts- The assessee is an individual and for the year under consideration filed the return of income on 30/10/2017, declaring a total income of Rs.1,88,68,990. The return filed by the assessee was selected for scrutiny and vide order dated 27/11/2019, passed u/s. 143(3) of the Act the scrutiny assessment was concluded assessing the total income of the ass...