Depreciation and routine compliance expenses disallowance did not prove inaccurate particulars or misreporting; penalty sustained only on foreign trav...
Assessee failed to establish eligibility for immunity under section 270AA(3) because no application in Form 68-online or manual-was produced or acknowledged; alleged technical glitch was unsubstantiated. The reasoning applies the requirement that an immunity application must be filed and evidenced, and that absence of Form 68 or acknowledgment supports a finding of under reporting. Consequent to these factual and evidentiary findings, penalty liability under section 270A was sustained and the appeal was dismissed.
Assessee failed to establish eligibility for immunity under section 270AA(3) because no application in Form 68-online or manual-was produced or acknowledged; alleged technical glitch was unsubstantiated. The reasoning applies the requirement that an immunity application must be filed and evidenced, and that absence of Form 68 or acknowledgment supports a finding of under reporting. Consequent to these factual and evidentiary findings, penalty liability under section 270A was sustained and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
