https://www.taxtmi.com/caselaws?id=469914 Penalty under section 270A was not leviable where the addition arose only from disallowance of a deduction claimed under section 80IA(4)(iii). The Tribunal applied the statutory scheme that enhanced penalty for under-reporting requires the income to fall within specified misreporting categories, such as misrepresentation, suppression of facts, false entries, failure to record receipts, or unsupported expenditure. A deduction claim that is ultimately rejected in assessment does not, by itself, amount to misreporting or furnishing inaccurate particulars. The penalty was therefore held unsustainable and directed to be deleted. en-us Tue, 11 Mar 2025 00:00:00 +0530 Wed, 08 Jul 2026 20:43:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469914 Penalty under section 270A was not leviable where the addition arose only from disallowance of a deduction claimed under section 80IA(4)(iii). The Tribunal applied the statutory scheme that enhanced penalty for under-reporting requires the income to fall within specified misreporting categories, such as misrepresentation, suppression of facts, false entries, failure to record receipts, or unsupported expenditure. A deduction claim that is ultimately rejected in assessment does not, by itself, amount to misreporting or furnishing inaccurate particulars. The penalty was therefore held unsustainable and directed to be deleted. Case-Laws Income Tax Tue, 11 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469914