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2012 (6) TMI 837 - AT - Income TaxCancellation of penalty levied under Section 271(1)(c) - whether the income from sale of stock options is assessable as long term capital gain (as disclosed by the assessee) or short term capital gain (as assessed by the AO) - Held that:- In the assessee’s case, evidently, there is no furnishing of any inaccurate particulars. It is not the case of the Revenue that the assessee has either concealed any fact or has submitted any wrong or incorrect fact. It is only the question of opinion whether the income from sale of stock option is assessable as short term capital gain or as long term capital gain. Thus mere making a claim which is not admissible does not lead to furnishing inaccurate particulars - Decided against revenue.
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