https://www.taxtmi.com/caselaws?id=795350 Penalty for misreporting of income under section 270A requires notices to identify the specific charge under the applicable clause of section 270A(9). Where the notices did not specify any charge for misreporting or suppression, the Revenue lacked authority to impose the penalty. The underlying classification of riot-related damage as capital or revenue expenditure was also debatable. On these grounds, the section 270A penalty was deleted. en-us Wed, 15 Jul 2026 00:00:00 +0530 Tue, 21 Jul 2026 08:32:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795350 Penalty for misreporting of income under section 270A requires notices to identify the specific charge under the applicable clause of section 270A(9). Where the notices did not specify any charge for misreporting or suppression, the Revenue lacked authority to impose the penalty. The underlying classification of riot-related damage as capital or revenue expenditure was also debatable. On these grounds, the section 270A penalty was deleted. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795350