https://www.taxtmi.com/caselaws?id=790905 A penalty under section 270A of the Income-tax Act, 1961 for misreporting of income is invalid unless the specific limb of section 270A(9) alleged against the assessee is clearly identified in the assessment proceedings or penalty notice. A general reference to misreporting does not constitute a valid charge because it fails to inform the assessee of the exact statutory basis invoked. Here, neither the assessment order nor the penalty notice specified the particular limb relied on, so the initiation of penalty was deficient and the penalty was unsustainable. The ITAT, Bangalore deleted the penalty. en-us Thu, 30 Apr 2026 00:00:00 +0530 Sat, 02 May 2026 07:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790905 A penalty under section 270A of the Income-tax Act, 1961 for misreporting of income is invalid unless the specific limb of section 270A(9) alleged against the assessee is clearly identified in the assessment proceedings or penalty notice. A general reference to misreporting does not constitute a valid charge because it fails to inform the assessee of the exact statutory basis invoked. Here, neither the assessment order nor the penalty notice specified the particular limb relied on, so the initiation of penalty was deficient and the penalty was unsustainable. The ITAT, Bangalore deleted the penalty. Case-Laws Income Tax Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790905