Under reported income treatment for disallowed surcharge and cess deductions enables recomputation of total income unless voluntary recomputation and payment is made. A deduction for surcharge or cess previously claimed and allowed though not allowable shall be treated as under reported income for the purposes of the under reporting penalty; the Assessing Officer shall recompute the total income for that previous year and apply the correction procedure, with the correction period prescribed, except where the assessee applies in prescribed form and time and pays the tax due after recomputation, in which case the claim will not be treated as under reported income.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Under reported income treatment for disallowed surcharge and cess deductions enables recomputation of total income unless voluntary recomputation and payment is made.
A deduction for surcharge or cess previously claimed and allowed though not allowable shall be treated as under reported income for the purposes of the under reporting penalty; the Assessing Officer shall recompute the total income for that previous year and apply the correction procedure, with the correction period prescribed, except where the assessee applies in prescribed form and time and pays the tax due after recomputation, in which case the claim will not be treated as under reported income.
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