https://www.taxtmi.com/caselaws?id=466909 Penalty for misreporting under section 270A(9) requires the show-cause notice to identify the specific statutory clause relied upon. Failure to specify the applicable clause among clauses (a) to (f) is treated as a procedural defect supporting deletion of the penalty. Bona fide reliance on a tax consultant, lack of awareness of incorrect deduction claims, prompt filing of a corrected revised return, and payment of tax and interest upon discovery of the error further support relief where the revised return is accepted. On these grounds, the penalty for under-reporting resulting from misreporting was deleted. en-us Thu, 20 Feb 2025 00:00:00 +0530 Thu, 26 Feb 2026 03:24:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466909 Penalty for misreporting under section 270A(9) requires the show-cause notice to identify the specific statutory clause relied upon. Failure to specify the applicable clause among clauses (a) to (f) is treated as a procedural defect supporting deletion of the penalty. Bona fide reliance on a tax consultant, lack of awareness of incorrect deduction claims, prompt filing of a corrected revised return, and payment of tax and interest upon discovery of the error further support relief where the revised return is accepted. On these grounds, the penalty for under-reporting resulting from misreporting was deleted. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466909