https://www.taxtmi.com/caselaws?id=787617 Penalty under section 270A cannot survive where the assessee has complied with the conditions for immunity under section 270AA by paying the tax and interest, filing Form No. 68 within time, and not appealing against the assessment order. The absence of any valid order rejecting the immunity application, or recorded reasons showing misreporting so as to deny immunity, meant the statutory protection remained available. On those facts, the penalty was held unsustainable and was quashed in favour of the assessee. en-us Thu, 05 Mar 2026 00:00:00 +0530 Tue, 10 Mar 2026 08:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787617 Penalty under section 270A cannot survive where the assessee has complied with the conditions for immunity under section 270AA by paying the tax and interest, filing Form No. 68 within time, and not appealing against the assessment order. The absence of any valid order rejecting the immunity application, or recorded reasons showing misreporting so as to deny immunity, meant the statutory protection remained available. On those facts, the penalty was held unsustainable and was quashed in favour of the assessee. Case-Laws Income Tax Thu, 05 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787617