https://www.taxtmi.com/caselaws?id=795938 Penalty for misreporting of income requires the notice to disclose the statutory and factual basis for alleging misrepresentation or other bad faith under Section 270A(9), and the penalty order must provide supporting reasons. A bare assertion of misreporting or a general reference to Section 270A is insufficient, particularly because misreporting attracts a higher penalty and excludes immunity under Section 270AA. Tax sought to be evaded must also be computed on the relevant assessed difference rather than the entire assessed normal income where the figures differ only to a stated extent. Invalid proceedings may be restarted in accordance with law, subject to the assessee's available contentions. en-us Mon, 20 Jul 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795938 Penalty for misreporting of income requires the notice to disclose the statutory and factual basis for alleging misrepresentation or other bad faith under Section 270A(9), and the penalty order must provide supporting reasons. A bare assertion of misreporting or a general reference to Section 270A is insufficient, particularly because misreporting attracts a higher penalty and excludes immunity under Section 270AA. Tax sought to be evaded must also be computed on the relevant assessed difference rather than the entire assessed normal income where the figures differ only to a stated extent. Invalid proceedings may be restarted in accordance with law, subject to the assessee's available contentions. Case-Laws Income Tax Mon, 20 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795938