2021 (4) TMI 1225

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....dvocate. Respondents Through: Mr. Zoheb Hossain, Sr. Standing Counsel. O R D E R [Court hearing convened via video-conferencing on account of COVID-19] 1. Mr. Deepak Chopra, who appears on behalf of the petitioner, says that the impugned order dated 26.03.2021 is not only contrary to the provisions of the Income Tax Act, 1961 [in short the "Act"], but has also been passed in the breach....

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....Income TaxAct 1961, as applicable, levied as per the computation mentioned in the income tax computation form which is deemed to be part of this order. Demand notice and challan/refund issued accordingly. Penalty proceedings u/s. 270A are initiated. Issued notice u/s 274 r.w.s. 270A of the IT Act, 1961 for underreporting of income as mentioned at Para 5 above ..." 4. In support of this plea, he....