https://www.taxtmi.com/caselaws?id=777187 ITAT held that the penalty under section 270A(2) for alleged underreporting was unsustainable and deleted it. The assessee, confronted with retrospective amendment to section 40(a)(ii) disallowing education cess for A.Y. 2020-21, surrendered the deduction during scrutiny and the assessment order dated 13-09-2022 accepted the surrender. Applying the proviso to section 155(18), the Tribunal found the assessee entitled to immunity from penalty for honestly surrendering the claim within the prescribed period and allowed the appeal. en-us Thu, 21 Aug 2025 00:00:00 +0530 Tue, 26 Aug 2025 08:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777187 ITAT held that the penalty under section 270A(2) for alleged underreporting was unsustainable and deleted it. The assessee, confronted with retrospective amendment to section 40(a)(ii) disallowing education cess for A.Y. 2020-21, surrendered the deduction during scrutiny and the assessment order dated 13-09-2022 accepted the surrender. Applying the proviso to section 155(18), the Tribunal found the assessee entitled to immunity from penalty for honestly surrendering the claim within the prescribed period and allowed the appeal. Case-Laws Income Tax Thu, 21 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777187