https://www.taxtmi.com/caselaws?id=794616 Penalty under section 270A was held unsustainable because the assessee later disclosed the income in reassessment, paid tax before completion of assessment, and did not conceal material facts. The explanation for non-filing of the return-that tax was believed to have already been deducted and reflected in Form 26AS-was accepted as bona fide, bringing the case within the statutory exception under section 270A(6)(a). The limited difference between returned and assessed income, together with deletion of the section 69A addition in quantum proceedings, supported deletion of the penalty in favour of the assessee. en-us Thu, 02 Jul 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794616 Penalty under section 270A was held unsustainable because the assessee later disclosed the income in reassessment, paid tax before completion of assessment, and did not conceal material facts. The explanation for non-filing of the return-that tax was believed to have already been deducted and reflected in Form 26AS-was accepted as bona fide, bringing the case within the statutory exception under section 270A(6)(a). The limited difference between returned and assessed income, together with deletion of the section 69A addition in quantum proceedings, supported deletion of the penalty in favour of the assessee. Case-Laws Income Tax Thu, 02 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794616