https://www.taxtmi.com/highlights?id=72336 Penalty proceedings u/s. 270A for underreporting of income - claim of excessive loss - Since, the assessee has neither claimed any benefit of loss against any other income for the impugned assessment year, nor has taken set off of said loss against income from house property in subsequent assessment years, in our considered view, the Assessing Officer has completely erred in considering loss computed by the assessee as underreporting of income on account of mis reporting of income. - AT en-us Tue, 03 Oct 2023 18:17:02 +0530 Tue, 03 Oct 2023 18:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72336 Penalty proceedings u/s. 270A for underreporting of income - claim of excessive loss - Since, the assessee has neither claimed any benefit of loss against any other income for the impugned assessment year, nor has taken set off of said loss against income from house property in subsequent assessment years, in our considered view, the Assessing Officer has completely erred in considering loss computed by the assessee as underreporting of income on account of mis reporting of income. - AT Highlights Income Tax Tue, 03 Oct 2023 18:17:02 +0530 https://www.taxtmi.com/highlights?id=72336