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2013 (1) TMI 897 - AT - Income TaxFurnished inaccurate particulars of income - penalty levied u/s.271(1)(c) - Held that:- Transaction in respect of the share trading was duly disclosed at the time of filing of the return - Income was shown as longtern capital gain and part of the income was also shown as speculative business - assessee disclosed the names of the companies, description of the shares, date of transfer of shares, sale consideration, cost of acquisition and the index cost and considered the gain as long-term capital - thus there is no allegation of concealment of facts - the addition was made merely because of change in the head of income - Therefore in absence of any inaccuracy in the particulars of income or concealment of facts the penalty must not be levied - Decided in favor of assessee
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