Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT held that penalty u/s 270A(9)(a) for under-reporting of income is deleted. The appellant, a salaried employee, demonstrated a bona fide mistake by relying on tax representative's advice and TDS portal figures. Given the taxpayer's full tax payment, reliance on official portal data, and genuine error, the tribunal found no intentional misreporting. The 200% penalty initially imposed by the Assessing Officer was consequently nullified, with the decision rendered in favor of the assessee based on mitigating circumstances.
ITAT held that penalty u/s 270A(9)(a) for under-reporting of income is deleted. The appellant, a salaried employee, demonstrated a bona fide mistake by relying on tax representative's advice and TDS portal figures. Given the taxpayer's full tax payment, reliance on official portal data, and genuine error, the tribunal found no intentional misreporting. The 200% penalty initially imposed by the Assessing Officer was consequently nullified, with the decision rendered in favor of the assessee based on mitigating circumstances.
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