https://www.taxtmi.com/caselaws?id=785054 Issue concerns liability to penalty for under-reporting of income where a belated return was filed and Form No.68 under Section 270AA was submitted but not adjudicated. The legal basis is that immunity from penalty under Section 270AA arises where statutory conditions are met, including payment of tax and no appeal; failure of the assessing officer to accept or reject the Form No.68 requires grant of immunity. Consequence: immunity from penalty must be granted where the statutory preconditions are satisfied and the AO has not passed the mandatory decision, and the appeal is allowed accordingly. en-us Fri, 28 Nov 2025 00:00:00 +0530 Fri, 16 Jan 2026 08:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785054 Issue concerns liability to penalty for under-reporting of income where a belated return was filed and Form No.68 under Section 270AA was submitted but not adjudicated. The legal basis is that immunity from penalty under Section 270AA arises where statutory conditions are met, including payment of tax and no appeal; failure of the assessing officer to accept or reject the Form No.68 requires grant of immunity. Consequence: immunity from penalty must be granted where the statutory preconditions are satisfied and the AO has not passed the mandatory decision, and the appeal is allowed accordingly. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785054