She declared Rs 43,796 income but omitted Rs 14.02 lakh interest from her ITR; tax officer imposed a 200% penalty of Rs 4.85 lakh, but ITAT cut it to Rs 1.21 lakh

This is the case of a 57-year old non-resident Indian (NRI) woman who ended up under-reporting her income when she filed her Income Tax Return, and the gap was huge.
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