Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2024 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (1) TMI 1138 - MADRAS HIGH COURTImmunity from imposing penalty u/s 270AA - Penalty u/s 270A for failure to file the return of income (ITR) - under reported income - Period of limitation - whether the facts and circumstances justify exemption from imposition of penalty and whether the application in such regard was filed in time? HELD THAT:- Delay is about one month beyond the stipulated period - By taking into account the fact that the gross total income disclosed by the petitioner in the return of income was accepted in order dated 09.03.2023 and the fact that the total tax liability of Rs. 3,68,906/-, as disclosed in the return of income, was also accepted in order dated 09.03.2023, this is a fit case to condone the delay of 30 days in filing the application for immunity from imposition of penalty. Therefore, the delay is condoned. Under reporting of income - As per clause Sub section 6 (a) of Section 270A the amount of income in respect of which the assessee offers an explanation, which is accepted as bona fide is liable to be excluded provided all material facts were disclosed. This case appears to fall within the scope of clause (a) of sub-section 6 of Section 270 A. In any event, since the order rejecting the application for immunity from imposition of penalty warrants interference, the consequential order is also liable to be quashed. For reasons set out above, the impugned orders are quashed. As a consequence, the first respondent is directed to re-consider the application for immunity from imposition of penalty on merits by taking into account the observations set out in this order.
|