https://www.taxtmi.com/highlights?id=87933 ITAT adjudicated a tax penalty case involving under-reported income. The tribunal upheld the lower appellate authority's order deleting penalty u/s 270A. Since the primary quantum addition related to section 80P deduction was eliminated, no substantial under-reported income was established. Consequently, the penalty could not be sustained. The revenue's appeal was dismissed, confirming that the prerequisite conditions for imposing penalty under section 270A were not satisfied based on the factual matrix presented. en-us Thu, 01 May 2025 08:46:52 +0530 Thu, 01 May 2025 08:46:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=87933 ITAT adjudicated a tax penalty case involving under-reported income. The tribunal upheld the lower appellate authority's order deleting penalty u/s 270A. Since the primary quantum addition related to section 80P deduction was eliminated, no substantial under-reported income was established. Consequently, the penalty could not be sustained. The revenue's appeal was dismissed, confirming that the prerequisite conditions for imposing penalty under section 270A were not satisfied based on the factual matrix presented. Highlights Income Tax Thu, 01 May 2025 08:46:52 +0530 https://www.taxtmi.com/highlights?id=87933