|Income Tax Appellate Tribunal
Section 270A(6)(a) IT Act | Penalty Invalid When Return Accepted Under Section 148 and No Specific Limb Cited : ITAT Ahmedabad
ITAT Ahmedabad has ruled that a penalty under Section 270A for under-reporting cannot stand if the Assessing Officer accepts the return filed under Section 148 and fails to specify which limb of Section 270A(2) applies. This protects taxpayers from arbitrary penalties where the tax department accepts the disclosed income yet imposes punitive measures without legal precision.