Section 80GGC Political Donation: Penalty Upheld despite Deduction Withdrawal After Reopening

Gunmala Jain Vs ITO (ITAT Jaipur) Penalty Upheld for Misreporting Where Deduction Withdrawn After Reopening; Withdrawal of Deduction After Reassessment Still Attracts Misreporting Penalty; Reassessed Income Higher Than Original Return Held to Be Underreporting; 200% Penalty Sustained for Misrepresentation in Political Donation Claim; Failure to Prove Bona Fide Donation Leads to Penalty for Misreporting. The Jaipur Bench of the Income Tax Appellate Tribunal considered an appeal against the confirmation of penalty levied under Section 270A of the Income Tax Act, 1961, for misreporting of income ...