https://www.taxtmi.com/caselaws?id=797380 Penalty for under-reporting of income under Section 270A cannot survive where its basis, an addition under the stamp-duty valuation mechanism in the original assessment, no longer exists. After the original quantum assessment was set aside, the fresh assessment accepted the returned income without modification, addition or demand. The absence of any surviving assessed addition removed the foundation for the penalty, rendering it unsustainable. en-us Mon, 10 Aug 2026 00:00:00 +0530 Fri, 21 Aug 2026 08:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797380 Penalty for under-reporting of income under Section 270A cannot survive where its basis, an addition under the stamp-duty valuation mechanism in the original assessment, no longer exists. After the original quantum assessment was set aside, the fresh assessment accepted the returned income without modification, addition or demand. The absence of any surviving assessed addition removed the foundation for the penalty, rendering it unsustainable. Case-Laws Income Tax Mon, 10 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797380