https://www.taxtmi.com/caselaws?id=470057 Section 270A penalty principles concern whether an erroneous indexed-cost claim constitutes misreporting when the return discloses the property transfer, consideration, ownership share, and other material facts. An excess claim based on the entire property, despite transfer of only a 45% share, may represent a computational error rather than concealment or suppression. The penalty framework also requires the notice to clearly identify the applicable limb or clause of Section 270A(9). Where the relevant facts are disclosed and the notice fails to specify the precise misreporting charge, the penalty is described as not leviable under the stated analysis. 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=470057 Section 270A penalty principles concern whether an erroneous indexed-cost claim constitutes misreporting when the return discloses the property transfer, consideration, ownership share, and other material facts. An excess claim based on the entire property, despite transfer of only a 45% share, may represent a computational error rather than concealment or suppression. The penalty framework also requires the notice to clearly identify the applicable limb or clause of Section 270A(9). Where the relevant facts are disclosed and the notice fails to specify the precise misreporting charge, the penalty is described as not leviable under the stated analysis. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470057