Penalty u/s. 271(1)(c) - inadvertent omission of not excluding ...

Penalty Dismissed: Taxpayer Wins as AO Lacks Evidence for Section 271(1)(c) Over Short-Term Loss Omission.

August 23, 2019

Case Laws Income Tax AT

Penalty u/s. 271(1)(c) - inadvertent omission of not excluding the short term loss u/s. 94(7) - AO has completed the assessment on the basis of details furnished by the assessee wherein he has paid voluntary taxes on disallowance u/s 94(7) - the assessee fully disclosed all the information asked for and has nowhere furnished any inaccurate particulars and since AO has not brought enough incriminating material then penalty is not leviable

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Penalty u/s. 271(1)(c) - inadvertent omission of not excluding ...

Penalty Dismissed: Taxpayer Wins as AO Lacks Evidence for Section 271(1)(c) Over Short-Term Loss Omission.

August 23, 2019

Case Laws Income Tax AT

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