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2013 (6) TMI 101 - DELHI HIGH COURTPenalty u/s 271(1)(c) - held that:- this is not a case which would attract penalty under Section 271(1)(c) of the Act. The question whether gains arising out of exercise of cashless options was long term capital gains or short term capital gains could have been a contentious issue at the material time. Further the facts of this case do not indicate that the assessee had furnished inaccurate particulars or concealed income. This court has also considered the issue of penalty in a similar situation in the case of Commissioner of Income Tax v. Jaswinder Singh Ahuja [2013 (2) TMI 581 - DELHI HIGH COURT] - Decided in favor of assessee.
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