201/-. Finally the penalty proceeding u/s 270A was initiated against the assessee. The assessee complied the notice u/s 270A of the Act in penalty proceeding duly initiated by the Ld. AO. Finally, the Ld.AO levied the penalty amount to Rs. 6,92,800/- u/s. 270A that 100% of tax sought to avid. Being aggrieved the assessee filed the appeal before