{"id":34886,"date":"2023-06-08T10:52:04","date_gmt":"2023-06-08T05:22:04","guid":{"rendered":"https:\/\/itatonline.org\/digest\/jaibalaji-business-corporation-p-ltd-v-acit-2023-200-itd-58-pune-trib\/"},"modified":"2023-06-08T10:52:04","modified_gmt":"2023-06-08T05:22:04","slug":"jaibalaji-business-corporation-p-ltd-v-acit-2023-200-itd-58-pune-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/jaibalaji-business-corporation-p-ltd-v-acit-2023-200-itd-58-pune-trib\/","title":{"rendered":"Jaibalaji Business Corporation (P.) Ltd v. ACIT ( 2023) 200 ITD 58 ( Pune )( Trib )"},"content":{"rendered":"<p>Assessing Officer made addition on basis of difference between value declared by assessee and value determined by DVO . The AO levied the penalty for underreporting of income . On appeal the Tribunal held\u00a0 that only basis of addition made was estimate made by DVO, said addition made on basis of estimation could not provide foundation for under-reported income for purpose of imposition of penalty under section 270A and thus, penalty was to be deleted\u00a0. ( AY. 2017 -18 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 270A:Penalty for under -reporting and misreporting of income &#8211;  Addition on the basis of estimation of valuation \u2013 Levy of penalty is not valid .[ S. 43CA ]<\/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-34886","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-94G","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34886","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=34886"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34886\/revisions"}],"predecessor-version":[{"id":34887,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34886\/revisions\/34887"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}