2026 (8) TMI 756

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.... : Sh. Om Prakash Sr. DR ORDER PER ANUBHAV SHARMA, JUDICIAL MEMBER: This appeal is preferred by the assessee against the order dated 22.10.2025 of the Ld. Commissioner of Income Tax (A)-26, Delhi (hereinafter referred to as the First Appellate Authority or 'the ld. FAA' for short) in DIN & Order No: ITBA/APL/S/250/2025-26/1081924041(1) arising out of the order dated 30.08.2024 u/s 271DA o....

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.... seized excel sheets. Simultaneously, penalty proceedings under section 270A of the Act were initiated alleging under-reporting of income in consequence of misreporting. The impugned penalty order dated 22.07.2024 under section 270A of the Act, was passed levying penalty of Rs. 2,75,380/- (being 200% of tax on income sought to be evaded) for alleged misreporting of income. Aggrieved thereby, the A....

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..... Thus failing to specify the exact charge of default as to the particular limb of section 270A(9)(a) to 270A(9)(g) of the Act, pursuant to which penalty has been invoked therein. 4. Now, Section 270A of the Act, draws a clear distinction between under-reporting of income and under-reporting in consequence of misreporting. Since the enhanced penalty of 200% under section 270A(8) can be levied o....