The Assessing Officer, while scrutinizing the return of an assessee, finds under-reporting of income for the reason of misreporting of facts of such income.He can levy penalty on such under-reported income resulting from misreporting of income up to taxpayable on such under-reported or misreported income

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The Assessing Officer, while scrutinizing the return of an assessee, finds under-reporting of income for the reason of misreporting of facts of such income.<br />He can levy penalty on such under-reported income resulting from misreporting of income up to tax<br />payable on such under-reported or misreported income






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