https://www.taxtmi.com/caselaws?id=800899 Penalty for under-reported income arising from misreporting applies where depreciation and amortisation are claimed on bogus transactions. Misrepresentation or suppression of facts, and recording false book entries, encompasses dealings with a non-existent accommodation-entry provider lacking genuine business substance. A surrender made after adverse survey material and independent enquiries, without disclosure through a revised return, is not voluntary merely because it seeks peace or avoids litigation. Section 270A's misreporting provisions override the general protection available for under-reported income, sustaining the penalty. en-us Thu, 08 Oct 2026 00:00:00 +0530 Tue, 13 Oct 2026 07:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800899 Penalty for under-reported income arising from misreporting applies where depreciation and amortisation are claimed on bogus transactions. Misrepresentation or suppression of facts, and recording false book entries, encompasses dealings with a non-existent accommodation-entry provider lacking genuine business substance. A surrender made after adverse survey material and independent enquiries, without disclosure through a revised return, is not voluntary merely because it seeks peace or avoids litigation. Section 270A's misreporting provisions override the general protection available for under-reported income, sustaining the penalty. Case-Laws Income Tax Thu, 08 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800899