Pune ITAT held that penalty for under-reporting of income cannot survive where the Assessing Officer accepts the income declared in response to notice under Section 148 without any addition. The Tribunal deleted the entire penalty under Section 270A.
The post No Addition, No Under-Reporting: ITAT Deletes Section 270A Penalty When Income Returned u/s 148 Was Fully Accepted appeared first on TaxGuru.
