https://www.taxtmi.com/article/detailed?id=13213 Allegations of misreporting of income require clause-specific identification from the six statutory heads (misrepresentation or suppression of facts; failure to record investments; claim of unsubstantiated expenditure; false entries in books; failure to record receipts affecting total income; failure to report international or specified domestic transactions). The assessing officer must expressly determine which charge is invoked before initiating penalty proceedings; omission of the specific clause renders a notice vague and the penalty initiation unsustainable. en-us Mon, 16 Dec 2024 15:40:26 +0530 Mon, 16 Dec 2024 15:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13213 Allegations of misreporting of income require clause-specific identification from the six statutory heads (misrepresentation or suppression of facts; failure to record investments; claim of unsubstantiated expenditure; false entries in books; failure to record receipts affecting total income; failure to report international or specified domestic transactions). The assessing officer must expressly determine which charge is invoked before initiating penalty proceedings; omission of the specific clause renders a notice vague and the penalty initiation unsustainable. Articles Income Tax Mon, 16 Dec 2024 15:40:26 +0530 https://www.taxtmi.com/article/detailed?id=13213