“penalty u/s 270A”

Daggubati Venkatesh, Chennai vs. DCIT., Central Circle-1(2), Hyderabad

In the result, appeal of assessee is allowed

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita No.645/Hyd/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Daggubati Venkatesh Dy. Commissioner Of Chennai Income Tax, Vs. [Pan No.Aahpb0939Q] Central Circle-1(2), Hyderabad अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धाररती द्वधरध/Assessee By: Shri A. Srinivas, Ar रधजस्‍व द्वधरध/Revenue By: Ms.M.Narmada,Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 19/02/2024 घोर्णध की तधरीख/Pronouncement On: 04/03/2025 आदेश / Order Per K. Narasimha Chary, J.M: Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-11, Hyderabad, (“Learned Cit(A)”), In The Case Of Daggubati Venkatesh (“The Assessee”) For The Assessment Year 2017-18, Assessee Preferred This Appeal With A Delay Of 21 Days. Learned Ar Explained That The Delay Was Due To The Reasons Beyond The Control Of The Assessee & Therefore, Pleaded To Condone The Delay. Heard Learned Dr. Delay Is Condoned. 2. Penalty In This Matter Is Levied Under Section 270A(9) Of The Act On The Ground Of Under Reported Income In Consequence Of Any Misreporting Thereof By The Assessee. Learned Ar Argued That The Learned Assessing

this case reads that,- “8. By considering facts of the case, I am satisfied that this is a fit case for levy of penalty u/s 270A for under reporting of income in consequence of misreporting as the assessee has under reported the income in the return of income ... equal to two hundred per cent of the amount of tax payable on under-reported income. 10. The amount considered for levy of penalty u/s 270A(9) is Rs. Rs.30,000/- and tax payable on the same works out to be Rs.10,382/-. Hence, Penalty leviable u/s 270A