Narrative:

At level flight (27000 ft), center queried us on our altitude. (They showed us at 27400.) a few seconds later, we switched transponders and they showed us at 27000 ft. Another aircraft on frequency (at FL280) confirmed he had us at FL270 through his TCAS unit. We wrote up transponder that was in question and continued with no further problems utilizing #2 transponder. Controller said there was no problem in this particular instance.

Google
 

Original NASA ASRS Text

Title: CENTER CTL SHOWED FLT AT 27400. FLC SWITCHED TRANSPONDERS AND CTL SHOWED FL270. TFC WAS AT FL280 WITH TCAS THAT CONFIRMED RPTR WAS FL270.

Narrative: AT LEVEL FLT (27000 FT), CENTER QUERIED US ON OUR ALT. (THEY SHOWED US AT 27400.) A FEW SECONDS LATER, WE SWITCHED TRANSPONDERS AND THEY SHOWED US AT 27000 FT. ANOTHER ACFT ON FREQ (AT FL280) CONFIRMED HE HAD US AT FL270 THROUGH HIS TCAS UNIT. WE WROTE UP TRANSPONDER THAT WAS IN QUESTION AND CONTINUED WITH NO FURTHER PROBLEMS UTILIZING #2 TRANSPONDER. CTLR SAID THERE WAS NO PROBLEM IN THIS PARTICULAR INSTANCE.

Data retrieved from NASA's ASRS site as of July 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.