https://www.taxtmi.com/caselaws?id=471408 Section 270A permits a 200% penalty for under-reporting only where the income results from misreporting within a specified circumstance under section 270A(9). Withdrawal during assessment of an inadmissible section 80IAC deduction, claimed after an erroneous selection of the old tax regime despite opting for section 115BAA taxation, does not itself establish misrepresentation or suppression of facts. The Assessing Officer must identify and prove the applicable statutory misreporting circumstance. Applying strict interpretation to penal provisions, the enhanced penalty for under-reporting resulting from misreporting was unsustainable. en-us Mon, 30 Jun 2025 00:00:00 +0530 Tue, 01 Sep 2026 19:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471408 Section 270A permits a 200% penalty for under-reporting only where the income results from misreporting within a specified circumstance under section 270A(9). Withdrawal during assessment of an inadmissible section 80IAC deduction, claimed after an erroneous selection of the old tax regime despite opting for section 115BAA taxation, does not itself establish misrepresentation or suppression of facts. The Assessing Officer must identify and prove the applicable statutory misreporting circumstance. Applying strict interpretation to penal provisions, the enhanced penalty for under-reporting resulting from misreporting was unsustainable. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471408