https://www.taxtmi.com/acts?id=21222 Section 270A establishes a penalty for under-reported income, defining under-reporting through comparisons between assessed, reassessed or return-processed incomes and deeming rules where deemed total income provisions apply; it prescribes methods to compute under-reported income and tax thereon, provides exclusions for bona fide explanations and certain estimates and transfer pricing conformity, attributes undeclared receipts to prior years where relevant, lists specified acts constituting misreporting, and mandates written orders imposing general or enhanced penalties based on the tax on under-reported income. en-us Fri, 06 May 2016 16:50:12 +0530 Fri, 06 May 2016 16:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21222 Section 270A establishes a penalty for under-reported income, defining under-reporting through comparisons between assessed, reassessed or return-processed incomes and deeming rules where deemed total income provisions apply; it prescribes methods to compute under-reported income and tax thereon, provides exclusions for bona fide explanations and certain estimates and transfer pricing conformity, attributes undeclared receipts to prior years where relevant, lists specified acts constituting misreporting, and mandates written orders imposing general or enhanced penalties based on the tax on under-reported income. Act-Rules F. Acts / Amendment Acts Fri, 06 May 2016 16:50:12 +0530 https://www.taxtmi.com/acts?id=21222