Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (7) TMI 18 - AT - Income TaxPenalty u/s 271(1)(c) - deduction claimed u/s 54F as denied to the assessee and consequently thereto the income of long term capital gain was determined - HELD THAT:- Considering the findings of the Tribunal in assessee own case [2023 (6) TMI 517 - ITAT JAIPUR] we are of the considered view that when the quantum appeal is allowed and the deduction has been granted by this Tribunal consequently the penalty cannot hold its leg and therefore, we vacate the consequential levy of penalty - Decided in favour of assessee.
|