TaxTMI 
TaxTMI 
2022 (4) TMI 910
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....ggarwal and Mr. Aditeya Bali, Advocates. Respondent Through: Mr. Ajit Sharma, Advocate. J U D G M E N T MANMOHAN, J (Oral) 1. Present writ petition has been filed challenging the order dated 16th March, 2022 passed by the Respondent under Section 270A of the Income Tax Act, 1961 ['the Act'] for the assessment year 2018-19. Petitioner also seeks immunity under Section 270AA from imposition of p....
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....ct was issued by Respondent requiring the Petitioner to show cause as to why the penalty for underreported income be not levied. 3. Learned counsel for the petitioner states that the Petitioner filed an application dated 3rd March, 2021 before the respondent in Form No.68 in terms of Section 270AA(2) seeking immunity from imposition of penalty under Section 270A of the Act. She states that the Re....
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.... on account of alleged misreporting of income that an assessee is prohibited from applying and availing the benefit of immunity from penalty and prosecution under Section 270AA. 5. In fact, the statutory scheme for grant of immunity is based on satisfaction of three fundamental conditions, namely, (i) payment of tax demand; (ii) non-institution of appeal; and (iii) initiation of penalty on....
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....ht to be granted immunity under Section 270AA of the Act. In fact, this Court, in Schneider Electric South East Asia (HQ) Pte Ltd. Vs. Asst. Commissioner of Income Tax International Taxation Circle 3(1)(2), New Delhi and Ors., WP(C) 5111/2022, has held, "This Court is further of the view that the impugned action of Respondent No.1 is contrary to the avowed Legislative intent of Section 270AA of th....