Bombay High Court Rules Penalty u/s 271(1)(c) for Capital Gain Addition u/s 50C Unlawful.

Penalty u/s 271(1)(c) - addition of capital gain u/s 50C - the amount remain to be added [after deducting the initial exemption and consideration] is the only amount added on account of the difference in the stamp duty valuation and the levy of the penalty on that amount is not legal based on the finding of the Bombay High Court we vacate the levy of the penalty - AT .....

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