https://www.taxtmi.com/highlights?id=105272 Under-reporting penalty requires assessed income to exceed the income determined on processing the return. Where reassessment accepts the income declared in the original return without any addition or disallowance, no income variation exists to constitute under-reported income and the statutory conditions for penalty are not met. The penalty is therefore unsustainable, the appellate order sustaining it is set aside, and deletion of the penalty follows. en-us Thu, 22 Oct 2026 08:38:37 +0530 Thu, 22 Oct 2026 08:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105272 Under-reporting penalty requires assessed income to exceed the income determined on processing the return. Where reassessment accepts the income declared in the original return without any addition or disallowance, no income variation exists to constitute under-reported income and the statutory conditions for penalty are not met. The penalty is therefore unsustainable, the appellate order sustaining it is set aside, and deletion of the penalty follows. Highlights Income Tax Thu, 22 Oct 2026 08:38:37 +0530 https://www.taxtmi.com/highlights?id=105272