https://www.taxtmi.com/caselaws?id=787152 Penalty under section 271(1)(c) and section 270A was held unsustainable where the assessee repaid the excess refund with interest before issue of the section 148 notice and furnished a revised computation showing the correct income. On those facts, the Tribunal found no deliberate concealment or culpable underreporting, and treated the pre-notice repayment and surrounding conduct as negativing the basis for penalty. Applying its coordinate bench decisions on similar facts, the Tribunal deleted the penalty orders and allowed the assessee's appeals. en-us Mon, 23 Feb 2026 00:00:00 +0530 Fri, 27 Feb 2026 08:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787152 Penalty under section 271(1)(c) and section 270A was held unsustainable where the assessee repaid the excess refund with interest before issue of the section 148 notice and furnished a revised computation showing the correct income. On those facts, the Tribunal found no deliberate concealment or culpable underreporting, and treated the pre-notice repayment and surrounding conduct as negativing the basis for penalty. Applying its coordinate bench decisions on similar facts, the Tribunal deleted the penalty orders and allowed the assessee's appeals. Case-Laws Income Tax Mon, 23 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787152