https://www.taxtmi.com/caselaws?id=795518 Penalties founded solely on additions in quantum assessments cannot survive once those assessments are quashed, because no underlying addition remains to support the penalty. For the later assessment year, penalty under Section 270A was not leviable where the addition was sustained only on an estimated basis. The addition followed a voluntary disclosure, but reconciliations, job-work records, invoices and payment details were furnished, and no corroborative material established under-reporting or misreporting. The estimated addition was therefore insufficient to meet the statutory conditions for penalty. Penalty orders for all relevant assessment years were set aside. en-us Wed, 15 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795518 Penalties founded solely on additions in quantum assessments cannot survive once those assessments are quashed, because no underlying addition remains to support the penalty. For the later assessment year, penalty under Section 270A was not leviable where the addition was sustained only on an estimated basis. The addition followed a voluntary disclosure, but reconciliations, job-work records, invoices and payment details were furnished, and no corroborative material established under-reporting or misreporting. The estimated addition was therefore insufficient to meet the statutory conditions for penalty. Penalty orders for all relevant assessment years were set aside. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795518