Notice under Section 274 read with Section 270A

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This discussion addresses a penalty notice received under Section 274 read with Section 270A, despite filing a belated return in response to a Section 148 notice. The user questions their liability for the penalty, especially since they believe there was no underreporting of income and paid the required fine. Advice suggests responding to the notice, clarifying whether it alleges underreporting or misreporting, and considering challenging the penalty order if issued.

feba kuruvilla

feba kuruvilla (Querist)

23 January 2025 I haven't filed return for AY 2020-21 but later filed the return as response to Notice under Section 148. No tax because of Rebate but paid ₹1000 aa fine. Now the assessment proceedings closed , I got a penalty notice under Section 274 read with 270A. No underreporting of income from my side. I have filed with the exact amount of income in income tax notice . But for the AY 2020-21, I filed return for the first time as response to Notice under Section 148. Whether I am liable to pay the penalty under Section 270A or can I drop it as per Section 270AA. Whether Form 68 applicable?

Nikhil Kaushik

Nikhil Kaushik (Expert)

24 January 2025 you are liable to pay penalty only after penalty order is issued. even that is challengeable. For the time being, file response to the notice.

Lekshmi

Lekshmi (Expert)

24 January 2025 What does the notice say-under reporting or misreporting? Write the detailed reply taking into account each and every word of the assessment order and the SCN issued.

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