Whether penalty u/s 270 can be invoked where income is taxable u/s 68 to 69D & applying tax u/s 115BBE
Income tax litigation often becomes complicated when additions are made under Sections 68 to 69D of the Income-tax Act, 1961. Further, the complexity increases when such income is taxable under Section 115BBE at a higher rate. Naturally, taxpayers then ask an important question: Can penalty under Section 270A still be imposed in such…
