Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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Misreporting of income under section 270A is not established merely because a donation deduction claimed under section 80GGC was disclosed in the return and later disallowed or withdrawn in a reassessment return. Misreporting requires material indicating deliberate furnishing of inaccurate particulars, false evidence, suppression, or misrepresentation. Where the taxpayer fulfils the substantive conditions for immunity under section 270AA(1), penalty protection applies. On these principles, the penalty imposed for misreporting was deleted and the appeal was allowed.
Misreporting of income under section 270A is not established merely because a donation deduction claimed under section 80GGC was disclosed in the return and later disallowed or withdrawn in a reassessment return. Misreporting requires material indicating deliberate furnishing of inaccurate particulars, false evidence, suppression, or misrepresentation. Where the taxpayer fulfils the substantive conditions for immunity under section 270AA(1), penalty protection applies. On these principles, the penalty imposed for misreporting was deleted and the appeal was allowed.
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