https://www.taxtmi.com/caselaws?id=788856 Penalty under section 270A requires the notice and penalty order to identify the precise statutory basis of the alleged default. Under-reporting and misreporting are distinct limbs with different penal consequences, and a higher penalty for misreporting cannot rest on an unspecified clause or vague allegation. Where proceedings were initiated for under-reporting but penalty was imposed at the misreporting rate without identifying the applicable misreporting limb, the levy was unsustainable. Disclosure of the relevant income particulars in the return, without evidence of misreporting or actionable under-reporting, also precluded the penalty. The penal levy was therefore deleted. 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 requires the notice and penalty order to identify the precise statutory basis of the alleged default. Under-reporting and misreporting are distinct limbs with different penal consequences, and a higher penalty for misreporting cannot rest on an unspecified clause or vague allegation. Where proceedings were initiated for under-reporting but penalty was imposed at the misreporting rate without identifying the applicable misreporting limb, the levy was unsustainable. Disclosure of the relevant income particulars in the return, without evidence of misreporting or actionable under-reporting, also precluded the penalty. The penal levy was therefore deleted. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788856