KERALA STATE CO-OPERATIVE BANK LTD,THIRUVANANTHAPURAM vs. DCIT,CIRCLE-1(1), THIRUVANANHAPURAM
ITA 171/COCH/2024[2018-2019]Status: DisposedITAT Cochin11 Dec 2024AY 2018-2019
Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2018-19
For Appellant: Shri Dijo Mathew, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(2)Section 270ASection 270A(1)Section 270A(2)Section 36(1)(viia)Section 40
9. At the time of arguments, the Ld.AR submitted that the penalty proceedings initiated u/s. 270A(1) and 270A(8) is not correct since the Act had used the word “may” in sub-section (1) of section 270A which means that the AO has the discretion to impose or not to impose penalty based on the facts and circumstances
