Sir, ITO issued order u/s 143(3) disallowed Rs. 32 Lacs and CIT(A) deleted addition Rs. 32 Lacs and my question AO can impose penalty u/s 270A ?? and my 2nd question is compulsory to reply u/s 270A issued notice inspite of no Under-Reporting and Mis-Reporting of Income ??
sir our company has filed return under MAT for Ay 18.19.The same is accepted in 143 (1A) provisinal order. There was some clarical error in working of section 80 I.claim. All details of working have been filed in 80 I report filed with return & assessment. Officer has reduced our 80 i claim Evenafter reducing 80 i claim, our Assessed income is under MAT. Officer has levied penalty u/s 270 A for under reporting of income consequent to misreporting of income for 80 iI excess claim & levied penalty @ 200%. We have filed appeal before Cit (A) Is penalty u/s 270A is leviable for under reporting consequent to misreporting of income, when Returned income & Assessed income remains the same under MAT? Pl highlights judicial decisions & share to us.
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RES Sir how to make draft for 270a
Real both are very helpful in guiding the income tax issues
very nice explain the topic
Very nicely explained and very simple language.. Thank you 🙏
Sir, ITO issued order u/s 143(3) disallowed Rs. 32 Lacs and CIT(A) deleted addition Rs. 32 Lacs and my question AO can impose penalty u/s 270A ?? and my 2nd question is compulsory to reply u/s 270A issued notice inspite of no Under-Reporting and Mis-Reporting of Income ??
sir our company has filed return under MAT for Ay 18.19.The same is accepted in 143 (1A) provisinal order. There was some clarical error in working of section 80 I.claim. All details of working have been filed in 80 I report filed with return & assessment. Officer has reduced our 80 i claim Evenafter reducing 80 i claim, our Assessed income is under MAT.
Officer has levied penalty u/s 270 A for under reporting of income consequent to misreporting of income for 80 iI excess claim & levied penalty @ 200%. We have filed appeal before Cit (A)
Is penalty u/s 270A is leviable for under reporting consequent to misreporting of income, when Returned income & Assessed income remains the same under MAT?
Pl highlights judicial decisions & share to us.
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