https://www.taxtmi.com/caselaws?id=798582 Penalty for misreporting of income under Section 270A cannot rest solely on an inadmissible Section 80GGC deduction that was transparently disclosed in the original return and later withdrawn in reassessment proceedings. Misreporting requires cogent material demonstrating deliberate falsity, suppression, misrepresentation, or fabrication of particulars; assessment findings do not independently establish it. Penalty proceedings remain distinct from assessment proceedings, and under-reporting must be distinguished from misreporting. Fulfilment of the substantive conditions for immunity under Section 270AA(1) further supported deletion of the penalty. en-us Thu, 03 Sep 2026 00:00:00 +0530 Wed, 09 Sep 2026 08:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798582 Penalty for misreporting of income under Section 270A cannot rest solely on an inadmissible Section 80GGC deduction that was transparently disclosed in the original return and later withdrawn in reassessment proceedings. Misreporting requires cogent material demonstrating deliberate falsity, suppression, misrepresentation, or fabrication of particulars; assessment findings do not independently establish it. Penalty proceedings remain distinct from assessment proceedings, and under-reporting must be distinguished from misreporting. Fulfilment of the substantive conditions for immunity under Section 270AA(1) further supported deletion of the penalty. Case-Laws Income Tax Thu, 03 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798582