Purchase Return Dispute Not Misreporting, Penalty Quashed

Nirjeet Singh Vs ITO (ITAT Delhi) Buy Peace, Pay Tax, Still Penalised?- Immunity u/s 270AA Cannot Be Denied by Labeling Genuine Dispute as ‘Misreporting’ Purchase Return Dispute ≠ Misreporting: ITAT Quashes 270A(9) Penalty & Grants Immunity Delhi ITAT ‘E’ Bench in Nirjeet Singh vs ITO, Ward 52(1), Delhi (ITA No.5151/Del/2025, AY 2022-23, order dated 23-12-2025) deleted penalty of ₹10.69 lakh levied u/s 270A(9), holding that a mere purchase-return mismatch does not amount to “misreporting of income” and therefore immunity u/s 270AA could not be denied mechanically. Assessee ...