270A

The Ld AO has initiated penalty proceedings u/s 270A and the operating para reads as under:- " Whereas in the course of proceedings for the Assessment Year 2019-20, it appears that you have under-reported income which is in consequence of misreporting thereof as per details given in the assessment order." Whether the same is considered to be under reporting or misreporting of income?

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  Updated return

Whether in case of donation to political party if the case is taken for assessment or reassessment & the A.O. decides to disallow the donation made & initiates penalty u/s 270A whether the same will be leviable for under-reporting /misreporting i.e. 50% of tax payable or 200% of tax payable. Whether it will be the amount of tax  & surcharge only or it will include the amount of interest.

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  Section 270A

Can AO invoke provision of section 270A just because tax at higher rate is applied by him u/s 115BBE and no addition to income is made on income declared is offered at normal rate ?

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  Whether penalty u/s 270A be levied for misreporting of income in respect of 5% conveyance expenses and addition as cash credits? Whether penalty u/s 270A be levied for misreporting of income in respect of 5% conveyance expenses and addition as cash credits?

Penalty u/s 270A was initiated on addition of conveyeyance expense Say 5% for want of vouchers etc but mentioned in Assessment order as Mis reporting of income. Assessee filed form 68 u/s 270AA claim ing immunity from Penalty within a month of the order but as per section 270AA immunity is not available in Misreporting of Income.How to proceed . Pl Guide and refer some judgements.

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