https://www.taxtmi.com/caselaws?id=792854 Penalty under section 270A(9) was held unsustainable where the quantum addition was made on an estimated basis by applying a profit percentage to alleged ingenuine purchases. The estimated character of the addition was treated as decisive, because the statutory scheme under section 270A recognises immunity where income is determined by estimation. On that footing, the characterisation of the case as misreporting did not justify penalty, and the levy was deleted. en-us Tue, 02 Jun 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792854 Penalty under section 270A(9) was held unsustainable where the quantum addition was made on an estimated basis by applying a profit percentage to alleged ingenuine purchases. The estimated character of the addition was treated as decisive, because the statutory scheme under section 270A recognises immunity where income is determined by estimation. On that footing, the characterisation of the case as misreporting did not justify penalty, and the levy was deleted. Case-Laws Income Tax Tue, 02 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792854