https://www.taxtmi.com/caselaws?id=790704 Updated return filed under Section 139(8A) before issuance of reassessment notice, together with disclosure of additional income and payment of tax, meant the statutory basis for alleging under-reporting under Section 270A was not accepted. As the additional income had already been disclosed and taxed, and the assessment was completed on the returned income, the penalty was held unsustainable and deleted in favour of the assessee. en-us Tue, 21 Apr 2026 00:00:00 +0530 Wed, 29 Apr 2026 08:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790704 Updated return filed under Section 139(8A) before issuance of reassessment notice, together with disclosure of additional income and payment of tax, meant the statutory basis for alleging under-reporting under Section 270A was not accepted. As the additional income had already been disclosed and taxed, and the assessment was completed on the returned income, the penalty was held unsustainable and deleted in favour of the assessee. Case-Laws Income Tax Tue, 21 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790704