Tribunal held that in the assessment order the Assessing Officer mentioned under reporting of Income. The show cause also refers under reporting of income. Penalty is levied for misreporting of income. Penalty is deleted. (AY. 2018-19)(ITA No. 238/Hyd/ 2024 dt. 2-4 2024)
Mohd. Sarwar v. ITO (2024) Chamber’s Journal-May-P. 137 (Hyd)(Trib)
S. 270A : Penalty for under-reporting and misreporting of income-Not specifying the charge-Penalty levied for misreporting-Notice issued was under reporting of income-Levy of penalty is cancelled. [S. 274]