https://www.taxtmi.com/caselaws?id=797384 Section 270A distinguishes under-reporting from misreporting and requires the penalty charge to identify the precise statutory default, including the applicable circumstance of misreporting. Failure to specify the relevant limb of Section 270A(9) in the notice and penalty order deprives the assessee of clear notice and invalidates the penalty proceedings. Further, an assessee's bona fide adoption of a plausible view on the taxability of interest on enhanced compensation, supported by divergent Tribunal views, does not constitute misreporting. Penalty for misreporting therefore cannot rest on an unspecified charge or a debatable legal position. en-us Wed, 12 Aug 2026 00:00:00 +0530 Fri, 21 Aug 2026 08:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797384 Section 270A distinguishes under-reporting from misreporting and requires the penalty charge to identify the precise statutory default, including the applicable circumstance of misreporting. Failure to specify the relevant limb of Section 270A(9) in the notice and penalty order deprives the assessee of clear notice and invalidates the penalty proceedings. Further, an assessee's bona fide adoption of a plausible view on the taxability of interest on enhanced compensation, supported by divergent Tribunal views, does not constitute misreporting. Penalty for misreporting therefore cannot rest on an unspecified charge or a debatable legal position. Case-Laws Income Tax Wed, 12 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797384