https://www.taxtmi.com/caselaws?id=470274 A deduction claim under section 80IA, supported by a chartered accountant-certified Form 10CCB that correctly disclosed the undertaking's initial year of power generation, does not constitute misreporting merely because the claim is disallowed. Penalty proceedings are distinct from assessment proceedings, and acceptance of a disallowance alone does not establish misrepresentation or suppression of material facts. Where the relevant fact was accurately disclosed, the conditions for misreporting under section 270A(9)(a) are not met; accordingly, penalty under section 270A is unsustainable. en-us Wed, 19 Mar 2025 00:00:00 +0530 Tue, 21 Jul 2026 19:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470274 A deduction claim under section 80IA, supported by a chartered accountant-certified Form 10CCB that correctly disclosed the undertaking's initial year of power generation, does not constitute misreporting merely because the claim is disallowed. Penalty proceedings are distinct from assessment proceedings, and acceptance of a disallowance alone does not establish misrepresentation or suppression of material facts. Where the relevant fact was accurately disclosed, the conditions for misreporting under section 270A(9)(a) are not met; accordingly, penalty under section 270A is unsustainable. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470274