https://www.taxtmi.com/caselaws?id=463715 ITAT MUMBAI held that the assessment under s. 263 was erroneous and prejudicial to revenue because penalty proceedings under s. 270A were not initiated by the AO in respect of additions to income from house property (unsold flats). Relying on HC precedents treating s. 270A as pari materia with former s. 271(1)(c), the Tribunal found that penalty could and should have been considered by the AO; the assessee's grounds were dismissed. en-us Mon, 20 Feb 2023 00:00:00 +0530 Fri, 12 Sep 2025 17:18:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463715 ITAT MUMBAI held that the assessment under s. 263 was erroneous and prejudicial to revenue because penalty proceedings under s. 270A were not initiated by the AO in respect of additions to income from house property (unsold flats). Relying on HC precedents treating s. 270A as pari materia with former s. 271(1)(c), the Tribunal found that penalty could and should have been considered by the AO; the assessee's grounds were dismissed. Case-Laws Income Tax Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463715