https://www.taxtmi.com/highlights?id=84901 ITAT set aside CIT(A)'s order confirming penalty u/s 270A for misreporting income. Assessee substantially complied with s.270AA by paying tax, not contesting assessment, applying for waiver on plain paper despite not filing Form 68. AO didn't specify misreporting clause. Remanded to CIT(A) to decide if Form 68 dispensable when substantive conditions met, pass reasoned order on misreporting applicability, allow assessee to produce evidence. Appeal allowed for statistical purposes. en-us Thu, 16 Jan 2025 08:17:50 +0530 Thu, 16 Jan 2025 08:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84901 ITAT set aside CIT(A)'s order confirming penalty u/s 270A for misreporting income. Assessee substantially complied with s.270AA by paying tax, not contesting assessment, applying for waiver on plain paper despite not filing Form 68. AO didn't specify misreporting clause. Remanded to CIT(A) to decide if Form 68 dispensable when substantive conditions met, pass reasoned order on misreporting applicability, allow assessee to produce evidence. Appeal allowed for statistical purposes. Highlights Income Tax Thu, 16 Jan 2025 08:17:50 +0530 https://www.taxtmi.com/highlights?id=84901