https://www.taxtmi.com/caselaws?id=785051 Penalty under section 270A was found unsustainable where the assessee had originally disclosed the VRS-related income, the figures matched the TDS record, and the revised return was filed under a bona fide mistaken belief of exemption; on those facts, the elements of misreporting or concealment were not established, so the penalty was deleted. Immunity under section 270AA was also granted because Form 68 had been filed, no appeal was pursued against the assessment order, and the record supported a bona fide disclosure rather than a case for denying statutory relief. en-us Wed, 26 Nov 2025 00:00:00 +0530 Fri, 16 Jan 2026 08:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785051 Penalty under section 270A was found unsustainable where the assessee had originally disclosed the VRS-related income, the figures matched the TDS record, and the revised return was filed under a bona fide mistaken belief of exemption; on those facts, the elements of misreporting or concealment were not established, so the penalty was deleted. Immunity under section 270AA was also granted because Form 68 had been filed, no appeal was pursued against the assessment order, and the record supported a bona fide disclosure rather than a case for denying statutory relief. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785051