https://www.taxtmi.com/caselaws?id=764699 ITAT Kolkata allowed assessee's appeal for statistical purposes regarding penalty u/s 270A for misreporting of income. Despite assessee not filing Form 68 but applying for penalty immunity on plain paper while fulfilling substantive conditions under section 270AA, CIT(A) confirmed penalty focusing on procedural non-compliance. ITAT found AO failed to specify which clause under section 270A(9) applied for misreporting penalty, noting case appeared to be under-reporting rather than misreporting. Matter remitted to CIT(A) to determine if Form 68 filing could be dispensed with given assessee's compliance with substantive requirements, tax payment, and non-contestation of assessment order. en-us Tue, 14 Jan 2025 00:00:00 +0530 Thu, 16 Jan 2025 08:17:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764699 ITAT Kolkata allowed assessee's appeal for statistical purposes regarding penalty u/s 270A for misreporting of income. Despite assessee not filing Form 68 but applying for penalty immunity on plain paper while fulfilling substantive conditions under section 270AA, CIT(A) confirmed penalty focusing on procedural non-compliance. ITAT found AO failed to specify which clause under section 270A(9) applied for misreporting penalty, noting case appeared to be under-reporting rather than misreporting. Matter remitted to CIT(A) to determine if Form 68 filing could be dispensed with given assessee's compliance with substantive requirements, tax payment, and non-contestation of assessment order. Case-Laws Income Tax Tue, 14 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764699