Live Session on Navigating Penalty under section 270A for under Reporting and mis-reporting of income

Questions

• What is the penalty rate in case of under-reporting of Income & under reporting of in consequence of mis-reporting?
• Who is appropriate authority to levy the penalty u/s 270A?
• Whether penalty u/s 270A can be levied for disallowance made in processing the return u/s 143(1)(a)?
• Whether benefit of basic exemption will be available for calculation of penalty under section 270A in a case where no return has been filed?
• Whether penalty u/s 271AAB & 270A can be simultaneously invoked for specified years?

• Whether the penalty will be invoked on revised income declared in return filled to in response to notice u/s 148?
• Whether brought forward loss is required to be adjusted against unreported income for calculation of penalty amount?
• Where the income of assesse is increased in assessment proceeding & correspondingly deduction under chapter VI-A under heading C is simultaneously allowed. Whether penalty under section 270A will be invoked ?
• Whether penalty u/s 270A will be invoked in a case where addition in respect of investment is explained out of intangible additions made in earlier years?
• Whether penalty u/s 270 can be invoked where income is taxable u/s 68 to 69D & applying tax u/s 115BBE?

• Whether the benefit of bonafide mistake will be available for determining penalty u/s 270A?
• Whether penalty u/s 270A can be invoked on the estimated addition made by A.O
• Whether addition made on the basis of DVO report is liable for penalty u/s 270A?

• Whether addition in respect of personal expenditure estimated by the A.O is liable for penalty u/s 270A?
• Whether non-specification of charge regarding under reporting of income and under reporting of income in consequence of misreporting of income will vitiate the penalty proceedings?
• The analysis of word misrepresentation or suppression of facts as dealt in Section 270A(9)  clause (a).
• Whether revision u/s 263 can be made where the A.O in assessment order has failed to give finding regarding under reporting or mis-reporting of income?
• Under what circumstances immunity from penalty u/s 270A can be provided?