https://www.taxtmi.com/caselaws?id=784917 Levy of penalty under Section 270A(7) arose from comparing income in the original and revised returns, with the AO adopting the original-return figures; CIT(A) reduced the penalty to fifty percent. The appellate authority did not identify which specific limb of Section 270A(2) (the statutory categories of under-reporting) applied, and the requirement to specify the precise clause is mandatory when imposing penalty under Section 270A. For failure to indicate the applicable limb of Section 270A(2), the penalty under Section 270A was directed to be deleted. en-us Mon, 28 Apr 2025 00:00:00 +0530 Wed, 14 Jan 2026 08:56:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784917 Levy of penalty under Section 270A(7) arose from comparing income in the original and revised returns, with the AO adopting the original-return figures; CIT(A) reduced the penalty to fifty percent. The appellate authority did not identify which specific limb of Section 270A(2) (the statutory categories of under-reporting) applied, and the requirement to specify the precise clause is mandatory when imposing penalty under Section 270A. For failure to indicate the applicable limb of Section 270A(2), the penalty under Section 270A was directed to be deleted. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784917