Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]

By Shabna Rahim - On June 7, 2023 11:45 am - 2 mins read

Penalty - Income Tax Act - Income Tax - Non-Disclosure of Interest Income in ROI is valid - ITAT - Income - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty imposed under Section 270A of the Income Tax Act, 1961 on grounds of non-disclosure of interest income in Return of Income (ROI) is valid. BLPL Singapore Pte Ltd, the appellant assessee was a foreign company and tax resident of Singapore and…

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