https://www.taxtmi.com/caselaws?id=770440 The Tribunal analyzed a case involving penalty under section 270A of the Income Tax Act for underreporting of income. It found the penalty unjustified due to the tax consultant's fraudulent actions, the assessee's bona fide conduct, and voluntary tax payment before notice issuance. The Tribunal set aside the penalty, emphasizing that deliberate misreporting was absent and the assessee acted transparently throughout the process. en-us Thu, 08 May 2025 00:00:00 +0530 Sat, 10 May 2025 08:36:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770440 The Tribunal analyzed a case involving penalty under section 270A of the Income Tax Act for underreporting of income. It found the penalty unjustified due to the tax consultant's fraudulent actions, the assessee's bona fide conduct, and voluntary tax payment before notice issuance. The Tribunal set aside the penalty, emphasizing that deliberate misreporting was absent and the assessee acted transparently throughout the process. Case-Laws Income Tax Thu, 08 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770440