Section 270A Penalty — Under-Reporting vs. Misreporting: Key Differences, Immunity Provisions & Landmark ITAT Rulings (2024–2025)

Relevant Sections & Provisions

• Section 270A — Penalty for under-reporting and misreporting of income (w.e.f. AY 2017-18)
• Section 270AA — Immunity from penalty and prosecution
• Section 271(1)(c) — Penalty for concealment (applicable up to AY 2016-17)
• Section 274 — Procedure for penalty
• Section 275 — Bar of limitation for penalty proceedings
• Section 246A — Appealable orders (penalty order under 270A is appealable)

Case Name with Citation

Gujarat Energy Development Agency vs. Deputy Commissioner of Income Tax Citation: 2025 TAXSCAN (ITAT) 2066 ITAT Ahmedabad Bench Bench: Sanjay Garg (Judicial Member) & Narendra Prasad Sinha (Accountant Member) Year: 2025