https://www.taxtmi.com/caselaws?id=791644 Penalty under section 270A was held unsustainable where the show-cause notice alleged only under-reporting, but the final penalty order proceeded on misreporting without clearly identifying the statutory limb invoked. The inconsistency between the notice and the order vitiated the penalty proceedings. The assessee's claim for exemption, based on the employer-issued Form 16 showing the amount as exempt and no tax deducted at source, was accepted as a bona fide explanation supported by disclosure of material facts within the statutory exception. On these facts, the penalty was deleted. en-us Tue, 12 May 2026 00:00:00 +0530 Mon, 18 May 2026 17:10:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791644 Penalty under section 270A was held unsustainable where the show-cause notice alleged only under-reporting, but the final penalty order proceeded on misreporting without clearly identifying the statutory limb invoked. The inconsistency between the notice and the order vitiated the penalty proceedings. The assessee's claim for exemption, based on the employer-issued Form 16 showing the amount as exempt and no tax deducted at source, was accepted as a bona fide explanation supported by disclosure of material facts within the statutory exception. On these facts, the penalty was deleted. Case-Laws Income Tax Tue, 12 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791644