Monday, 13 June 2022 / Published in News & Updates, Income Tax

Under reporting of income due to re-computation of dis-allowances does not amount to misreporting of income: Delhi HC

The High Court of Delhi in the case of M/s Prem Brothers Infrastructure LLP Vs National Faceless Assessment Centre & Anr [W.P.(C) 7092/2022] quashed the penalty under section 270A of the Income Tax Act 1961 and directed to grant immunity under section 270AA of the Act. The Court held that under-reporting of income due to