MLA Claimed Full Set-Off of Rs. 36.04 Lakh House Property Loss Under Newly Introduced Provision; ITAT Deletes Rs. 5.67 Lakh Penalty for Bona Fide Error The Income Tax Appellate Tribunal (ITAT), Bengaluru Bench, has allowed the appeal filed by Mr. Uday Garudachar, a sitting MLA in a case relating to penalty under Section 270A of…
ITAT Deletes Income Tax penalty against incorrect HRA Exemption ITAT Delhi has quashed a penalty order passed under Section 270A of the Income Tax Act, 1961, on the ground that the penalty notice did not specify the particular sub-clause of Section 270A under which the penalty was being initiated. The assessee filed his return of…
HC Quashes Penalty u/s 270A where claim was based on binding jurisdictional precedent at time of ITR filing The petitioner, GM Modular Private Limited, filed its return for AY 2019-20 declaring income of Rs. 70.11 crore. While processing under Section 143(1), an adjustment of Rs. 26.72 lakh was made towards the delayed deposit of employees’…
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