https://www.taxtmi.com/caselaws?id=215535 The tribunal allowed the appeal, canceling the penalty imposed by the AO and confirmed by the CIT (Appeals). The tribunal held that the appellant was not guilty of furnishing inaccurate particulars or concealing income, and the penalty under section 271(1)(c) was not leviable. The tribunal's decision was based on the fact that the assessment was completed under section 115JB and the appellant had a bona fide belief regarding the treatment of income from share transactions. en-us Fri, 13 Apr 2012 00:00:00 +0530 Thu, 18 Jun 2026 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215535 The tribunal allowed the appeal, canceling the penalty imposed by the AO and confirmed by the CIT (Appeals). The tribunal held that the appellant was not guilty of furnishing inaccurate particulars or concealing income, and the penalty under section 271(1)(c) was not leviable. The tribunal's decision was based on the fact that the assessment was completed under section 115JB and the appellant had a bona fide belief regarding the treatment of income from share transactions. Case-Laws Income Tax Fri, 13 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215535