https://www.taxtmi.com/caselaws?id=210351 The Tribunal ruled in favor of the Hindu undivided family assessee, highlighting the distinction between quantum assessment and penalty imposition under section 158BFA. Despite procedural errors, the Tribunal found the assessee effectively disclosed capital gains, justifying the lower tax rate applied. The penalty imposed by the Assessing Officer was deemed unjustified, leading to the deletion of the penalty under contention. en-us Tue, 07 Jun 2011 00:00:00 +0530 Wed, 26 Jun 2013 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210351 The Tribunal ruled in favor of the Hindu undivided family assessee, highlighting the distinction between quantum assessment and penalty imposition under section 158BFA. Despite procedural errors, the Tribunal found the assessee effectively disclosed capital gains, justifying the lower tax rate applied. The penalty imposed by the Assessing Officer was deemed unjustified, leading to the deletion of the penalty under contention. Case-Laws Income Tax Tue, 07 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210351