{"id":52129,"date":"2025-03-18T15:13:15","date_gmt":"2025-03-18T09:43:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/a-cit-v-mahashian-di-hatti-p-ltd-2024114-itr-44-sndelhitrib\/"},"modified":"2025-03-18T15:13:15","modified_gmt":"2025-03-18T09:43:15","slug":"a-cit-v-mahashian-di-hatti-p-ltd-2024114-itr-44-sndelhitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/a-cit-v-mahashian-di-hatti-p-ltd-2024114-itr-44-sndelhitrib\/","title":{"rendered":"A.CIT v Mahashian Di Hatti P. Ltd. (2024)114 ITR 44 (SN)(Delhi)(Trib)"},"content":{"rendered":"<p>Held that the mistake was purely an oversight resulting in excess claim of depreciation, which was less than one per cent. of the returned income. The assessee had been declaring returned income of more than Rs. 100 crores and paying substantial taxes over the years. Therefore, this was a not a case of under-reporting or misreporting of income, within the meaning of section\u00a0270A. The action of the Assessing Officer in levying penalty under section\u00a0270A(8)\u00a0at the rate of 200 per cent.is\u00a0 unsustainable. The penalty is\u00a0 deleted. (AY.2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 270A:Penalty for under-reporting and misreporting of income-<br \/>\nClosing  stock-Difference in value-Inadvertent mistake  cannot be considered as misreporting of income. [S. 44AB, 270A(8)] <\/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-52129","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dyN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52129","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=52129"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52129\/revisions"}],"predecessor-version":[{"id":52130,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52129\/revisions\/52130"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}