Time-Barred Penalty: ITAT Hyderabad Quashes 270A Order Passed Six Months Beyond Section 275(1)(c) Deadline

Shaik Abdul Khader Vs ITO (ITAT Hyderabad)

Penalty Initiated in December, Order Passed in December Next Year – ITAT Hyderabad Quashes 270A Penalty as Time-Barred u/s 275(1)(c)

Assessee, challenged the validity of a penalty order passed u/s 270A on the ground of limitation prescribed under section 275(1)(c) of the Income Tax Act. The assessment order u/s 143(3) was passed on 04.12.2020, wherein  AO clearly recorded at para 7 that he was “satisfied that Assessee underreported his income” &  therefore “penalty u/s 270A is initiated.” Further, the penalty notice

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