https://www.taxtmi.com/caselaws?id=793548 Penalty under section 270A was held unsustainable where the addition rested on estimated short turnover and the penalty order failed to specify whether the default was underreporting or misreporting of income. Section 270A creates distinct consequences for underreporting and misreporting, so the authority had to identify the exact limb invoked. As the estimate was made without rejection of books of account and the order did not place the case within any misreporting category under section 270A(9), the penalty could not be sustained and was directed to be deleted. en-us Tue, 16 Jun 2026 00:00:00 +0530 Thu, 18 Jun 2026 08:45:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793548 Penalty under section 270A was held unsustainable where the addition rested on estimated short turnover and the penalty order failed to specify whether the default was underreporting or misreporting of income. Section 270A creates distinct consequences for underreporting and misreporting, so the authority had to identify the exact limb invoked. As the estimate was made without rejection of books of account and the order did not place the case within any misreporting category under section 270A(9), the penalty could not be sustained and was directed to be deleted. Case-Laws Income Tax Tue, 16 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793548