https://www.taxtmi.com/caselaws?id=768803 ITAT Ahmedabad held that penalty under section 270A cannot be levied where disallowance of expenses for non-deduction of TDS under section 40(a)(ia) constitutes an apparent mistake adjustable under section 143(1)(a). The tribunal ruled that only income assessed above that determined under section 143(1)(a) qualifies as underreported income liable to penalty. Since the addition was an apparent computational mistake rather than deliberate underreporting, no penalty was imposable. The appeal was decided in favor of the assessee. en-us Thu, 19 Dec 2024 00:00:00 +0530 Sat, 12 Apr 2025 13:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768803 ITAT Ahmedabad held that penalty under section 270A cannot be levied where disallowance of expenses for non-deduction of TDS under section 40(a)(ia) constitutes an apparent mistake adjustable under section 143(1)(a). The tribunal ruled that only income assessed above that determined under section 143(1)(a) qualifies as underreported income liable to penalty. Since the addition was an apparent computational mistake rather than deliberate underreporting, no penalty was imposable. The appeal was decided in favor of the assessee. Case-Laws Income Tax Thu, 19 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768803