https://www.taxtmi.com/caselaws?id=788045 Penalty under section 270A of the Income-tax Act was unsustainable where the notice under section 274 read with section 270A did not specify the exact limb of default and the final levy proceeded on a different charge from the one indicated at initiation. The record showed reference to under-reporting as a consequence of misreporting, but the penalty was ultimately imposed for under-reporting of income. Because the notice failed to identify the particular clause of section 270A(9) and the basis of initiation did not match the basis of levy, the penalty was held to be without basis and deleted in favour of the assessee. en-us Thu, 12 Mar 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788045 Penalty under section 270A of the Income-tax Act was unsustainable where the notice under section 274 read with section 270A did not specify the exact limb of default and the final levy proceeded on a different charge from the one indicated at initiation. The record showed reference to under-reporting as a consequence of misreporting, but the penalty was ultimately imposed for under-reporting of income. Because the notice failed to identify the particular clause of section 270A(9) and the basis of initiation did not match the basis of levy, the penalty was held to be without basis and deleted in favour of the assessee. Case-Laws Income Tax Thu, 12 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788045