https://www.taxtmi.com/caselaws?id=221019 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the penalty under Section 271(1)(c) of the Income-tax Act, 1961. The case involved discrepancies in the valuation of property for capital gains computation. The Tribunal emphasized that the values adopted by the stamping authority did not necessarily reflect the actual market price. It concluded that there was no concealment of income or furnishing of inaccurate particulars, dismissing the Revenue's appeal. en-us Wed, 18 Jan 2012 00:00:00 +0530 Tue, 19 Feb 2013 07:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221019 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the penalty under Section 271(1)(c) of the Income-tax Act, 1961. The case involved discrepancies in the valuation of property for capital gains computation. The Tribunal emphasized that the values adopted by the stamping authority did not necessarily reflect the actual market price. It concluded that there was no concealment of income or furnishing of inaccurate particulars, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 18 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221019