2025 (3) TMI 1718

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....vas, AR For the Revenue : Ms. M.Narmada,CIT-DR ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the order passed by the learned Commissioner of Income Tax (Appeals)-11, Hyderabad, ("Learned CIT(A)"), in the case of Daggubati Venkatesh ("the assessee") for the assessment year 2017-18, assessee preferred this appeal with a delay of 21 days. Learned AR explained that the delay was due to t....

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....se of Suresh productions vs. DCIT in ITA No. 642 /Hyd/ 2023 for the assessment year 2017-18 by order dated 29/2/2024 decided on similar facts. 3. Learned DR vehemently relied upon the orders of the Revenue authorities and submitted that certain times the instances will be over lapping and suffice it to refer the head under which the penalty is levied, which in this matter happens to be under re....

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....of any mis-reporting thereof by any person, the penalty shall be equal to two hundred per cent of the amount of tax payable on under-reported income. 10. The amount considered for levy of penalty u/s 270A(9) is Rs. Rs. 30,000/- and tax payable on the same works out to be Rs. 10,382/-. Hence, Penalty leviable u/s 270A at the rate of two hundred per cent on tax payable is Rs. 20,764/- (Rupe....

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....of the Act. However, a reading of the reasons given by the AO to levy penalty for misreporting (supra) it is discerned that he has failed to spell out as to how the assessee's case/additions falls within the ken of instances given in clause (a) to (f) of sub-section (9) of section 270A of the Act. Since AO failed to bring the addition/disallowance he made in quantum assessment, under the ken of (a....