https://www.taxtmi.com/caselaws?id=788856 Penalty under section 270A of the Income-tax Act, 1961 requires the notice and penalty order to clearly identify the exact statutory limb alleged, whether under-reporting or misreporting, because the two attract different consequences. A vague invocation of section 270A(9) and a shift from under-reporting in the notice to misreporting in the order render the penalty unsustainable. The note also records that disclosure of the relevant income particulars in the return negates any actionable under-reporting or misreporting on the facts. On that reasoning, the penal levy was deleted and the matter was decided in favour of the assessee. en-us Fri, 27 Mar 2026 00:00:00 +0530 Mon, 30 Mar 2026 08:48:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788856 Penalty under section 270A of the Income-tax Act, 1961 requires the notice and penalty order to clearly identify the exact statutory limb alleged, whether under-reporting or misreporting, because the two attract different consequences. A vague invocation of section 270A(9) and a shift from under-reporting in the notice to misreporting in the order render the penalty unsustainable. The note also records that disclosure of the relevant income particulars in the return negates any actionable under-reporting or misreporting on the facts. On that reasoning, the penal levy was deleted and the matter was decided in favour of the assessee. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788856