Penalty u/s 271(1)(c) - The assessee had short term capital gain ...

Income Tax

April 18, 2018

Penalty u/s 271(1)(c) - The assessee had short term capital gain on sale of land which was wrongly claimed as long term capital gain by substituting year of acquisition as 1999 instead of 2004 and said mistake was not brought to the notice of AO suo moto. In this background penalty was confirmed - penalty deleted since the assessee had a bonafide belief - AT

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Penalty u/s 271(1)(c) - The assessee had short term capital gain ...

Income Tax

April 18, 2018

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