Penalty for Under-Reporting u/s 270A Unsustainable if No Income Variation ITAT Hyderabad

BHEL LCC Society Ltd Vs DCIT (ITAT Hyderabad) CPC’s Disallowance Blocks 270A Penalty; No Fresh Addition, No Penalty: ITAT Hyderabad Deletes 270A Levy- Penalty u/s 270A Deleted: ITAT Hyderabad Holds No Under-Reporting Where CPC & AO Made Identical Additions Assessee filed its return of income on 31.10.2017 declaring a loss of ₹22,68,825/-. CPC, while processing u/s 143(1) on 27.03.2019, disallowed ₹27,72,271/- towards delayed payment of employees’ PF contribution u/s 36(1)(va). On scrutiny, AO passed order u/s 143(3) on 26.12.2019 repeating the very same addition made by CPC without...