https://www.taxtmi.com/caselaws?id=798968 Section 270A distinguishes ordinary under-reporting from under-reporting caused by misreporting. Cash deposits disclosed through a revised computation, with consequential tax paid and the computation accepted in assessment, do not establish misreporting unless the applicable limb of section 270A(9) and its ingredients are identified. Where the taxpayer does not contest the addition and timely seeks immunity after paying tax and interest, the disclosure may constitute under-reporting at most. A penalty calculated for misreporting is therefore unsustainable, and immunity from penalty is available. en-us Thu, 10 Sep 2026 00:00:00 +0530 Tue, 15 Sep 2026 08:31:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798968 Section 270A distinguishes ordinary under-reporting from under-reporting caused by misreporting. Cash deposits disclosed through a revised computation, with consequential tax paid and the computation accepted in assessment, do not establish misreporting unless the applicable limb of section 270A(9) and its ingredients are identified. Where the taxpayer does not contest the addition and timely seeks immunity after paying tax and interest, the disclosure may constitute under-reporting at most. A penalty calculated for misreporting is therefore unsustainable, and immunity from penalty is available. Case-Laws Income Tax Thu, 10 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798968