https://www.taxtmi.com/caselaws?id=798742 Penalty for under-reported income arising from misreporting remains leviable where deductions for interest and dividend income were maintained during assessment and penalty proceedings. Section 270A(6) permits relief on a bona fide explanation, but section 270A(8) excludes that relief when the under-reporting constitutes misreporting under section 270A(9)(a). Payment of tax and interest after scrutiny assessment and initiation of penalty proceedings is consequential compliance, not voluntary disclosure demonstrating a bona fide error. Accordingly, the penalty at 200% for under-reporting resulting from misreporting was valid. en-us Tue, 08 Sep 2026 00:00:00 +0530 Fri, 11 Sep 2026 08:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798742 Penalty for under-reported income arising from misreporting remains leviable where deductions for interest and dividend income were maintained during assessment and penalty proceedings. Section 270A(6) permits relief on a bona fide explanation, but section 270A(8) excludes that relief when the under-reporting constitutes misreporting under section 270A(9)(a). Payment of tax and interest after scrutiny assessment and initiation of penalty proceedings is consequential compliance, not voluntary disclosure demonstrating a bona fide error. Accordingly, the penalty at 200% for under-reporting resulting from misreporting was valid. Case-Laws Income Tax Tue, 08 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798742