https://www.taxtmi.com/caselaws?id=795268 TDS credit must be claimed in the assessment year in which the corresponding income is assessable, and apportioned where that income is assessable over multiple years. Claiming full TDS credit while not offering all related commission and insurance commission receipts results in underreporting where no satisfactory explanation is provided. However, Form 26AS reflected the receipts and TDS details, and the absence of suppressed facts, unrecorded investments, or false book entries means the default should not be characterised as misreporting. The penalty should therefore apply only to underreporting of income and be modified accordingly. en-us Wed, 15 Jul 2026 00:00:00 +0530 Mon, 20 Jul 2026 09:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795268 TDS credit must be claimed in the assessment year in which the corresponding income is assessable, and apportioned where that income is assessable over multiple years. Claiming full TDS credit while not offering all related commission and insurance commission receipts results in underreporting where no satisfactory explanation is provided. However, Form 26AS reflected the receipts and TDS details, and the absence of suppressed facts, unrecorded investments, or false book entries means the default should not be characterised as misreporting. The penalty should therefore apply only to underreporting of income and be modified accordingly. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795268