Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Failure to file a return despite taxable income can constitute under-reporting under section 270A where no original return is furnished and assessed income exceeds the maximum amount not chargeable to tax. The note explains that section 270A is triggered by objective statutory conditions rather than concealment or intent to evade tax. Income disclosed in response to a reassessment notice and accepted without further addition does not cure the initial filing default. Availability of income details through tax deduction at source also does not remove the return-filing obligation. As no exclusion under section 270A(6) was established, penalty under section 270A(7) was sustained.
Failure to file a return despite taxable income can constitute under-reporting under section 270A where no original return is furnished and assessed income exceeds the maximum amount not chargeable to tax. The note explains that section 270A is triggered by objective statutory conditions rather than concealment or intent to evade tax. Income disclosed in response to a reassessment notice and accepted without further addition does not cure the initial filing default. Availability of income details through tax deduction at source also does not remove the return-filing obligation. As no exclusion under section 270A(6) was established, penalty under section 270A(7) was sustained.
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