https://www.taxtmi.com/caselaws?id=769735 ITAT-BLR held that penalty under section 270A cannot be levied where additional income, quantified during search and admitted as an estimate, was accepted by the AO in assessment under section 143(3) read with 153C. The tribunal found the AO failed to specify which limb of section 270A(2) or which act under section 270A(9) applied, denying the assessee opportunity to meet specific allegations and violating natural justice. Penalty is discretionary and revenue did not discharge the onus; decision against revenue. en-us Thu, 09 Jan 2025 00:00:00 +0530 Wed, 27 Aug 2025 10:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769735 ITAT-BLR held that penalty under section 270A cannot be levied where additional income, quantified during search and admitted as an estimate, was accepted by the AO in assessment under section 143(3) read with 153C. The tribunal found the AO failed to specify which limb of section 270A(2) or which act under section 270A(9) applied, denying the assessee opportunity to meet specific allegations and violating natural justice. Penalty is discretionary and revenue did not discharge the onus; decision against revenue. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769735