{"id":29764,"date":"2022-09-11T18:42:36","date_gmt":"2022-09-11T13:12:36","guid":{"rendered":"https:\/\/itatonline.org\/digest\/coimbatore-vaiyapuri-maathesh-v-ito-2022-bcaj-august-p-85-chennai-trib\/"},"modified":"2022-09-11T18:42:36","modified_gmt":"2022-09-11T13:12:36","slug":"coimbatore-vaiyapuri-maathesh-v-ito-2022-bcaj-august-p-85-chennai-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/coimbatore-vaiyapuri-maathesh-v-ito-2022-bcaj-august-p-85-chennai-trib\/","title":{"rendered":"Coimbatore Vaiyapuri Maathesh v.ITO( 2022) BCAJ \u2013 August \u2013 P. 85 ( Chennai )( Trib)"},"content":{"rendered":"<p>The Assessing Officer assessed the income of the appellant by making addition as unexplained money u\/s 69 of the Act . The PCIT passed the revision order on the ground that the AO has omitted to initiate penalty proceedings u\/s 270A of the Act . On appeal the Tribunal held that in the absence of any findings in the assessment order regarding underreporting or misreporting of income , the PCIT cannot revise assessment order to initiate penalty proceedings . Revision order was quashed . Followed CIT v. Chennai Metro Rail Ltd ( 2018) 92 taxmann.com 329 ( Mad)(HC) which is jurisdictional High Court instead of\u00a0 CIT .v Surendra Prasad Aggarwal ( 2005) 275 ITR 113( All)(HC) \u00a0\u00a0\u00a0.( TS-488 -ITAT -2022( Chennai) ( AY. 2017 -18 ) ( Dt. 17 -3 -2022 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue &#8211; Penalty for under -reporting and misreporting of income \u2013 Revision proceedings  held to be not valid merely for non initiation of penalty proceedings u\/s 270A of the Act .[ S. 270A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29764","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7K4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29764"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29764\/revisions"}],"predecessor-version":[{"id":29765,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29764\/revisions\/29765"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}