TMI Blog2019 (4) TMI 832X X X X Extracts X X X X X X X X Extracts X X X X ..... ed all the particulars of her income and under the head “Income with full exemption” the assessee has claimed dividend income as exempt and also long term capital gain on which STT is paid which is also exempt from tax. As find that during the course of scrutiny assessment proceedings the AO has proceeded by the assumption that the shares purchased and sold by the assessee comes into the categ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the levy of penalty imposed of ₹ 2,15,500/- u/s 271(1)(c) of the Act. 3. The brief facts of the case are that the Assessing Officer completed the assessment for the year under consideration of the assessee at an income of ₹ 11,84,740/- by making an addition of ₹ 6,89,655/- on account of surrender of sale amount of the assessee in place of returned income of ₹ 4,95,080 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duly disclosed all the particulars of her income and under the head Income with full exemption the assessee has claimed dividend income as exempt and also long term capital gain on which STT is paid which is also exempt from tax. I further find that during the course of scrutiny assessment proceedings the AO has proceeded by the assumption that the shares purchased and sold by the assessee comes ..... X X X X Extracts X X X X X X X X Extracts X X X X
|