https://www.taxtmi.com/caselaws?id=797221 Penalty for under-reporting income consequent to misreporting was not leviable where income omitted from the original return was fully disclosed in the return filed in response to notice under section 148. Although filing the return only after reassessment notice ordinarily brought the income within under-reporting provisions, the bona fide explanation exclusion applied. Salary and deposit-interest income had substantially suffered tax deduction at source, and the taxpayer's overseas employment and bona fide belief that the employer had filed the original return were supported by material facts. The penalty under section 270A was therefore directed to be deleted. en-us Wed, 22 Jul 2026 00:00:00 +0530 Wed, 19 Aug 2026 08:20:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797221 Penalty for under-reporting income consequent to misreporting was not leviable where income omitted from the original return was fully disclosed in the return filed in response to notice under section 148. Although filing the return only after reassessment notice ordinarily brought the income within under-reporting provisions, the bona fide explanation exclusion applied. Salary and deposit-interest income had substantially suffered tax deduction at source, and the taxpayer's overseas employment and bona fide belief that the employer had filed the original return were supported by material facts. The penalty under section 270A was therefore directed to be deleted. Case-Laws Income Tax Wed, 22 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797221