https://www.taxtmi.com/caselaws?id=801337 Income first declared in a return filed pursuant to a section 148 notice constitutes under-reported income under section 270A(2) where it exceeds the maximum amount not chargeable to tax, even if accepted without additions. The section 270A(6) exclusion does not apply where no explanation is given for failure to file the original return and the return follows reassessment proceedings. Enhanced penalty requires under-reporting to result from a statutory misreporting category under section 270A(9). Non-filing alone does not establish misreporting where cash deposits are explained as business sales and no addition is made; penalty is limited to 50% of tax payable on under-reported income. en-us Wed, 14 Oct 2026 00:00:00 +0530 Mon, 19 Oct 2026 07:01:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801337 Income first declared in a return filed pursuant to a section 148 notice constitutes under-reported income under section 270A(2) where it exceeds the maximum amount not chargeable to tax, even if accepted without additions. The section 270A(6) exclusion does not apply where no explanation is given for failure to file the original return and the return follows reassessment proceedings. Enhanced penalty requires under-reporting to result from a statutory misreporting category under section 270A(9). Non-filing alone does not establish misreporting where cash deposits are explained as business sales and no addition is made; penalty is limited to 50% of tax payable on under-reported income. Case-Laws Income Tax Wed, 14 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801337