https://www.taxtmi.com/caselaws?id=780422 ITAT held that penalty under section 270A(9) could not be sustained as misreporting requires a conscious falsification or concealment; the assessee had fully disclosed leave-encashment and claimed exemption based on a bona fide, arguable legal view supported by contemporaneous judicial reasoning and subsequent administrative action increasing the exemption. No suppression, false entry, or unsubstantiated expenditure was involved, so none of the subsection's limbs applied. The penalty imposed by the AO and affirmed on appeal was quashed and the assessee's appeal allowed. en-us Mon, 13 Oct 2025 00:00:00 +0530 Thu, 30 Oct 2025 08:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780422 ITAT held that penalty under section 270A(9) could not be sustained as misreporting requires a conscious falsification or concealment; the assessee had fully disclosed leave-encashment and claimed exemption based on a bona fide, arguable legal view supported by contemporaneous judicial reasoning and subsequent administrative action increasing the exemption. No suppression, false entry, or unsubstantiated expenditure was involved, so none of the subsection's limbs applied. The penalty imposed by the AO and affirmed on appeal was quashed and the assessee's appeal allowed. Case-Laws Income Tax Mon, 13 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780422