AAVAS FINANCIERS LIMITED,JAIPUR vs. ASSESSMENT UNIT, INCOME TAX DEPARTMENT, JAIPUR

ITA 444/JPR/2026Status: DisposedITAT Jaipur22 September 2026AY 2018-198 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had offered a bona fide explanation, supported by the jurisdictional High Court's judgment at the time of filing the return. Therefore, the amount could not be considered under-reported income for penalty purposes.

What were the facts?

The assessee deposited employee's contribution to provident fund one day after the due date. The Assessing Officer imposed a penalty under Section 270A for under-reporting of income, which was confirmed by the CIT(A).

What were the issues?

Whether a penalty under Section 270A is leviable when the claim was made based on a prevailing High Court judgment, even if later overturned by the Supreme Court.

Which sections of the Income-tax Act were involved?

Section 270A,Section 36(1)(va)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘SMC’ BENCH, JAIPUR

Before: Shri Kuldip Singh & Shri Prakash

PER : PRAKASH, ACCOUNTANT MEMBER:-

1.

This appeal by the Assessee is directed against the order of the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [hereinafter referred to as “the learned CIT(A)”] dated 24.12.2025 arising out of the penalty order dated 13.02.2023 passed by the Assessing Officer (hereinafter referred to as “the AO”) under section 270A of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) for the assessment year 2018-19. 2. The grounds of appeal raised by the Assessee before us in the memorandum of appeal in Form No. 36 read as under:

1.

Under the facts and

The order continues below.

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