https://www.taxtmi.com/caselaws?id=441392 ITAT, Mumbai quashed imposition of penalty under section 270A for "misreporting" because the penalty notice failed to specify which limb (under-reporting or misreporting) was invoked and did not demonstrate satisfaction of s.270A(9) - rendering the order arbitrary. The tribunal found no misreporting by the assessee and held the 43CA addition unsustainable on precedent, but noted quantum was not under challenge in this appeal. The assessee's grounds on the penalty were allowed. en-us Mon, 12 Jun 2023 00:00:00 +0530 Fri, 19 Sep 2025 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441392 ITAT, Mumbai quashed imposition of penalty under section 270A for "misreporting" because the penalty notice failed to specify which limb (under-reporting or misreporting) was invoked and did not demonstrate satisfaction of s.270A(9) - rendering the order arbitrary. The tribunal found no misreporting by the assessee and held the 43CA addition unsustainable on precedent, but noted quantum was not under challenge in this appeal. The assessee's grounds on the penalty were allowed. Case-Laws Income Tax Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441392