https://www.taxtmi.com/caselaws?id=782376 ITAT Hyderabad allowed the assessee's appeal, deleting penalty levied u/s 270A(9) of the IT Act. The Tribunal held that the assessee had duly disclosed income from redemption of a Unit Linked Insurance Plan in the return, though under the incorrect head "Capital Gains" instead of "Income from Other Sources." As there was no misrepresentation or suppression of facts, the case did not fall within any of the clauses (a) to (f) of s.270A(9). Relying on its earlier decision where penalty was held impermissible for mere change of head of income, ITAT ruled that penalty cannot be sustained. en-us Wed, 19 Nov 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782376 ITAT Hyderabad allowed the assessee's appeal, deleting penalty levied u/s 270A(9) of the IT Act. The Tribunal held that the assessee had duly disclosed income from redemption of a Unit Linked Insurance Plan in the return, though under the incorrect head "Capital Gains" instead of "Income from Other Sources." As there was no misrepresentation or suppression of facts, the case did not fall within any of the clauses (a) to (f) of s.270A(9). Relying on its earlier decision where penalty was held impermissible for mere change of head of income, ITAT ruled that penalty cannot be sustained. Case-Laws Income Tax Wed, 19 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782376