Re: penalty us 271B

assessee hide turnover and file return us 44AD at 8 percent. during assessment u/s 143(3) ito determined turnover based on bank statement and propose penalty u/s 270A and 271B of non submission of audit report. Penalty was not imposed during this period assessee file application under vived se vishwas which was approved and form no 5 issued.
whether immunity will be available from both penalties or not

Please refer CBDT Circular  No 21 /2020    dt. 4 -12-2020   Question No 80 and Answer . Q.80. Whether appeal against penalties that are not related to quantum assessment like penalty u/s 271B 271BA , 271DA of the Act  etc. are also waived upon settlement of appeal relating to ‘ disputed tax’ ?

Answer : No . appeal against such penalty order is required to be settled separately .

Accordingly the penalty under section 270A being for underreporting of income  the assessee will get the immunity . As regards the immunity u/s 271B of the Act , the assessee may have to contest in appeal .  

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