Iskander Altaf Lalljee Vs. DCIT, Circle 52(1)

Parties Involved

Facts Summary

The assessee, Iskander Altaf Lalljee, filed an appeal against the penalty imposed by the National Faceless Appeal Centre (NFAC) Delhi under Section 270A of the Income Tax Act, 1961. The penalty was imposed for underreporting of income due to misreporting. The assessee argued that the penalty was invalid as the notice did not specify under which limb of Section 270A(9) the penalty was initiated. The assessee also claimed that the error was a bonafide clerical mistake and not an underreporting of income. The assessee relied on several precedents to support his arguments.…

Legal Issues

• 1. Whether the penalty imposed by the AO was valid?
• 2. Whether the error committed by the assessee was a bonafide clerical mistake?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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