https://www.taxtmi.com/caselaws?id=762846 ITAT Pune held that penalty under section 270A for under-reporting income was not justified. The assessee had offered additional income from other sources in return filed against notice under section 148. Since no intimation under section 143(1) or order under section 143(3) was passed, the assessee did not fall under any category of under-reporting as defined in section 270A(2). The non-disclosure of interest on income tax refund was found to be inadvertent and bonafide error, not attracting penalty. Appeal allowed. en-us Thu, 05 Dec 2024 00:00:00 +0530 Mon, 09 Dec 2024 08:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762846 ITAT Pune held that penalty under section 270A for under-reporting income was not justified. The assessee had offered additional income from other sources in return filed against notice under section 148. Since no intimation under section 143(1) or order under section 143(3) was passed, the assessee did not fall under any category of under-reporting as defined in section 270A(2). The non-disclosure of interest on income tax refund was found to be inadvertent and bonafide error, not attracting penalty. Appeal allowed. Case-Laws Income Tax Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762846