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2007 (7) TMI 276 - HC - Income Tax
Penalty under Section 271(1)(c) - AO held that the Assessee had furnished inaccurate particulars of income to the extent of making a wrong claim of share trading loss against normal income – since assessee filed full details of the sale of shares, he did not conceal any particulars of income – mere treatment of the business loss as speculation loss by the Assessing Officer does not automatically warrant inference of concealment of income – penalty not imposable