Notice under Section 274 read with Section 270A

This query is : Resolved

feba kuruvilla (Querist)
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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)
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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)
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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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