https://www.taxtmi.com/highlights?id=72800 Penalty u/s 270A - under-reporting of income - taxability of interest - Immunity from imposition of penalty u/s 270AA - due to ongoing litigation about the taxability of the said income and misconception of law, the assessee claimed it as exempt. Nonetheless, the fact remains that the assessee filed revised return, offered the said income to tax during the course of assessment proceedings itself. - No penalty - AT en-us Mon, 30 Oct 2023 08:50:27 +0530 Sun, 29 Oct 2023 22:01:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72800 Penalty u/s 270A - under-reporting of income - taxability of interest - Immunity from imposition of penalty u/s 270AA - due to ongoing litigation about the taxability of the said income and misconception of law, the assessee claimed it as exempt. Nonetheless, the fact remains that the assessee filed revised return, offered the said income to tax during the course of assessment proceedings itself. - No penalty - AT Highlights Income Tax Mon, 30 Oct 2023 08:50:27 +0530 https://www.taxtmi.com/highlights?id=72800