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2023 (7) TMI 649 - AT - Income TaxLevy of penalty u/sec. 270A - under-reporting in consequence of misreporting of income - fraudulent refund by increasing deductions and reducing his taxable income - HELD THAT:- Assessee who has a history for habitually claiming fraudulent refund by increasing deductions and reducing his taxable income since A.Y. 2016-17 onwards, could not justify why he has continuously misreported his income and what was the legal basis for such an action and no plausible legal explanations were submitted why such misreporting was done by the assessee. It is obvious that this is a fraud committed against the Department in order to evade tax. We hold that NFAC has rightly upheld the levy of penalty by the AO @200% for misreporting of income as defined u/sec. 270A(9) - we do not find any infirmity with the findings of the NFAC which is upheld. Grounds of appeal stands dismissed.
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