https://www.taxtmi.com/caselaws?id=445397 Penalty under section 270A was contested on grounds of under-reporting and misreporting of income relating to cash receipts from a land sale. The Tribunal found income assessed did not exceed income determined on return processing, so no under-reporting occurred; consequence: penalty under provisions for under-reporting was inapplicable. On misreporting, the Tribunal held none of the specified misrepresentation or false-entry clauses applied and relevant receipts had been offered in the return; consequence: misreporting provisions were inapplicable. Search-seizure evidence pertained to third-party documents and books were not updated at search date, supporting exclusion of 270A penalties. en-us Tue, 26 Sep 2023 00:00:00 +0530 Fri, 23 Jan 2026 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445397 Penalty under section 270A was contested on grounds of under-reporting and misreporting of income relating to cash receipts from a land sale. The Tribunal found income assessed did not exceed income determined on return processing, so no under-reporting occurred; consequence: penalty under provisions for under-reporting was inapplicable. On misreporting, the Tribunal held none of the specified misrepresentation or false-entry clauses applied and relevant receipts had been offered in the return; consequence: misreporting provisions were inapplicable. Search-seizure evidence pertained to third-party documents and books were not updated at search date, supporting exclusion of 270A penalties. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445397