https://www.taxtmi.com/acts?id=40672 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. en-us Mon, 28 Mar 2022 14:16:06 +0530 Mon, 28 Mar 2022 14:16:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40672 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. Act-Rules F. Acts / Amendment Acts Mon, 28 Mar 2022 14:16:06 +0530 https://www.taxtmi.com/acts?id=40672