https://www.taxtmi.com/caselaws?id=764843 ITAT Delhi allowed the assessee's appeal and deleted the penalty imposed under Section 270A(9)(a). The tribunal found that the show cause notice and assessment order failed to specify which limb of Section 270A was attracted or how the ingredients of subsection (9) were satisfied. Following the Delhi HC precedent in Schneider Electric case, the tribunal held that mere reference to "misreporting" without specifying the particular instance made the penalty order manifestly arbitrary, thereby granting immunity to the assessee. en-us Fri, 17 Jan 2025 00:00:00 +0530 Mon, 20 Jan 2025 08:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764843 ITAT Delhi allowed the assessee's appeal and deleted the penalty imposed under Section 270A(9)(a). The tribunal found that the show cause notice and assessment order failed to specify which limb of Section 270A was attracted or how the ingredients of subsection (9) were satisfied. Following the Delhi HC precedent in Schneider Electric case, the tribunal held that mere reference to "misreporting" without specifying the particular instance made the penalty order manifestly arbitrary, thereby granting immunity to the assessee. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764843