No ITR filed despite ₹30 lakh salary: Delhi ITAT explains why ₹3.74 lakh penalty was deleted
A Delhi Income Tax Appellate Tribunal ruled that a taxpayer, who earned over ₹30 lakh but failed to file an income tax return for the 2019-20 assessment year, should not face a ₹3.74 lakh penalty. The tribunal concluded the taxpayer did not under-report income as the declared amount was accepted during reassessment. The case highlights the importance of timely filing despite tax deductions already made.