https://www.taxtmi.com/highlights?id=73576 Penalty levied u/s 270A - AO has simply recorded that 200% of penalty has been levied for the tax payable on mis-reporting of income. When the assessee has furnished his explanation in response to the show-cause notice, it is the duty of the Assessing Officer to consider and record as to why the reply is not acceptable. - Penalty deleted - AT en-us Thu, 14 Dec 2023 09:11:23 +0530 Thu, 14 Dec 2023 09:11:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73576 Penalty levied u/s 270A - AO has simply recorded that 200% of penalty has been levied for the tax payable on mis-reporting of income. When the assessee has furnished his explanation in response to the show-cause notice, it is the duty of the Assessing Officer to consider and record as to why the reply is not acceptable. - Penalty deleted - AT Highlights Income Tax Thu, 14 Dec 2023 09:11:23 +0530 https://www.taxtmi.com/highlights?id=73576