Non-Specification of Limb under which Penalty is Initiated is Arbitrary: Delhi HC says Assessee eligible for Immunity and shall be Incentivized [Read Order]

Non-Specification - Limb - Penalty - Delhi High Court - Assessee - Immunity - Incentivized - Taxscan

A two-judge bench of the Delhi High Court has ruled that the action of income tax authorities denying the benefit of immunity from penalty under Section 270AA of the Income Tax Act to the assessee on the ground that the penalty was initiated under Section 270A for misreporting of income is arbitrary since the penalty…

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