https://www.taxtmi.com/caselaws?id=770549 The ITAT Pune upheld CIT(A)'s decision to delete penalty u/s 270A imposed on a charitable trust. The trust had claimed excess expenditure while seeking exemption u/s 11(1), resulting in under-reported income. The tribunal found that conditions under section 270A(2)(a) to (g) were not met for penalty imposition. The trust had voluntarily filed revised computation correcting the expenditure from Rs. 54,82,12,549 to Rs. 48,77,87,725, indicating inadvertent error rather than deliberate under-reporting. The excess claim remained within statutory 15% limit under section 11(1)(a). Revenue's appeal was dismissed. en-us Thu, 08 May 2025 00:00:00 +0530 Mon, 12 May 2025 15:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770549 The ITAT Pune upheld CIT(A)'s decision to delete penalty u/s 270A imposed on a charitable trust. The trust had claimed excess expenditure while seeking exemption u/s 11(1), resulting in under-reported income. The tribunal found that conditions under section 270A(2)(a) to (g) were not met for penalty imposition. The trust had voluntarily filed revised computation correcting the expenditure from Rs. 54,82,12,549 to Rs. 48,77,87,725, indicating inadvertent error rather than deliberate under-reporting. The excess claim remained within statutory 15% limit under section 11(1)(a). Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 08 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770549