https://www.taxtmi.com/caselaws?id=789255 Penalty under section 270A was considered unsustainable where the assessee voluntarily disclosed additional income in the return filed under section 153C, paid tax and interest before assessment proceedings began, and explained the omission in the original return as inadvertent and bona fide. The Tribunal treated the surrounding facts as supporting genuine disclosure rather than deliberate concealment, and applied the principle that penalty cannot follow automatically merely because higher income is eventually offered. On that basis, the penalty was deleted. en-us Thu, 26 Feb 2026 00:00:00 +0530 Mon, 06 Apr 2026 08:51:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789255 Penalty under section 270A was considered unsustainable where the assessee voluntarily disclosed additional income in the return filed under section 153C, paid tax and interest before assessment proceedings began, and explained the omission in the original return as inadvertent and bona fide. The Tribunal treated the surrounding facts as supporting genuine disclosure rather than deliberate concealment, and applied the principle that penalty cannot follow automatically merely because higher income is eventually offered. On that basis, the penalty was deleted. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789255