Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
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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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