2013 (1) TMI 340

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..... rged by the revenue in this appeal against the order dated 16.2.2012 of the ITAT in ITA No.5596/Del./2011 is whether the Tribunal fell into error in directing deletion of the penalty under Section 271(1)(c). 2. The assessee declared an income of Rs. 2,60,73,558/- from short term capital gains. The assessing officer on an interpretation of the relevant provisions and having regard to the nature of .....

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..... t characterize the particulars or reported in the return as an 'inaccurate particulars' or as suppression of facts. The Court is also conscious of the decision of the Supreme Court in Calcutta Discount Co. Ltd. vs. Income Tax Officer (1961) 41 ITR 191 (SC) where it was held that it is up to the assessing officer to interpret the return and discern as to which head of income the amount had to be br .....

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