https://www.taxtmi.com/article/detailed?id=15955 Section 270A imposes a penalty for under reporting equal to a specified share of tax on the under reported income. Immunity under section 270AA is available only if the assessee pays the tax and interest demanded within the specified period, has not filed an appeal against the assessment order, and files the prescribed, verified application within the statutory time limit. The Assessing Officer must decide the application within the prescribed period after affording a hearing; failure to produce the prescribed form or to substantiate technical filing difficulties places the burden on the assessee and may preclude immunity. en-us Mon, 02 Mar 2026 08:39:12 +0530 Mon, 02 Mar 2026 08:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15955 Section 270A imposes a penalty for under reporting equal to a specified share of tax on the under reported income. Immunity under section 270AA is available only if the assessee pays the tax and interest demanded within the specified period, has not filed an appeal against the assessment order, and files the prescribed, verified application within the statutory time limit. The Assessing Officer must decide the application within the prescribed period after affording a hearing; failure to produce the prescribed form or to substantiate technical filing difficulties places the burden on the assessee and may preclude immunity. Articles Income Tax Mon, 02 Mar 2026 08:39:12 +0530 https://www.taxtmi.com/article/detailed?id=15955