Underreported Income & Misrepresentation: Bar to Section 270AA Application

IBS Software Private Limited Vs Union Of India (Kerala High Court)

Introduction: The legal battle between IBS Software Private Limited and the Union of India reached a pivotal point with the Kerala High Court’s judgment on the rejection of IBS’s application for immunity under Section 270AA of the Income Tax Act, 1961. The court’s decision, as outlined in Ext.P11, holds significance in cases involving the underreporting of income and misrepresentation of facts.

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