https://www.taxtmi.com/caselaws?id=470059 Penalty for under-reporting or misreporting of income requires an established factual basis demonstrating under-reporting and, where applicable, misreporting consequent to it. Mere invocation of the penalty provision without findings or evidence supporting these foundational conditions lacks legal support. Where the Revenue does not establish either under-reporting or misreporting, the penalty is unsustainable and liable to be deleted. en-us Thu, 13 Mar 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470059 Penalty for under-reporting or misreporting of income requires an established factual basis demonstrating under-reporting and, where applicable, misreporting consequent to it. Mere invocation of the penalty provision without findings or evidence supporting these foundational conditions lacks legal support. Where the Revenue does not establish either under-reporting or misreporting, the penalty is unsustainable and liable to be deleted. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470059