https://www.taxtmi.com/caselaws?id=797294 Penalty proceedings under Section 270A require a notice under Section 274 to identify the precise charge, namely under-reporting or the applicable misreporting limb. Notices referring generally to "under-reporting/misreporting" without specifying the statutory basis fail to clearly inform the assessee of the allegation and are not in accordance with law. Such defective notices invalidate the consequential penalty proceedings, resulting in deletion of penalties for both assessment years. en-us Fri, 07 Aug 2026 00:00:00 +0530 Thu, 20 Aug 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797294 Penalty proceedings under Section 270A require a notice under Section 274 to identify the precise charge, namely under-reporting or the applicable misreporting limb. Notices referring generally to "under-reporting/misreporting" without specifying the statutory basis fail to clearly inform the assessee of the allegation and are not in accordance with law. Such defective notices invalidate the consequential penalty proceedings, resulting in deletion of penalties for both assessment years. Case-Laws Income Tax Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797294