2025 (4) TMI 590

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....at on the facts and circumstances of the case, the said penalty levied be cancelled and relief be allowed. 3. The appellant further crave leave to add, alter or amend the facts and grounds of appeal before and during the appellate proceedings. 2. The appellant has taken an additional ground of appeal during the appeal hearing and the same is reproduced : "On the facts and circumstances of the case, the order levying penalty u/s 270A(9)(a) for under reporting of income inconsequence of misrepresentation of facts is not a valid order since the same is not in accordance with the law applicable." 3. As some background is required, the facts mentioned in assessment order are anyalysed on the basis of which penalty was levied. From the asse....

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....flected in Form 26AS while filing Return of Income. On noting this bank interest, the appellant paid taxes of Rs. 9,140/- alongwith interest b) Subsequently, the representative who looks after the affairs of appellant saw that part A as generated from TDS Traces site reflected total salary of Rs. 36,72,974/- which is different from the salary shown in the Return of Income filed by him. So, the appellant was under bonafide belief that the original Return of Income filed by him is incorrectly filed and the same needs to be revised. Hence, he filed a revised Return of Income declaring an income of Rs. 36,72,974/-. Thus, the appellant revised the Return of Income downwards based on what was reflected in TDS Traces portal of the Income Tax Dep....