No penalty u/s 270AA for delayed immunity application, as breach was procedural & tax was paid

Punam Kanwar Bhati Vs ITO (ITAT Jodhpur)

Conclusion: Penalty under section 270 A was not leviable as the nature of addition/disallowance were not in the nature of misreporting or misreporting income of assessee and assessee had paid the demand within 30 days and filed the required form no. 68 and that form was procedural in nature.

Held: During the year under consideration, AO had added Rs.28,388/- on account of violation of section 40A(3), Rs. 26,811/- on account of Interest income  and disallowed excess depreciation claimed amounting to R

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