https://www.taxtmi.com/caselaws?id=221607 The High Court upheld the ITAT's decisions in both issues, leading to the dismissal of the appeal with no order as to costs. In the first issue, the Tribunal canceled the penalty under Section 271(1)(c) for interest on tax-free bonds due to an inadvertent mistake by the assessee. In the second issue, the Tribunal overturned the penalty for treating premium on debentures as income from other sources, as it was a dispute over income classification rather than concealment. The High Court found no reason to entertain the questions raised and dismissed the appeal. en-us Tue, 26 Feb 2013 00:00:00 +0530 Tue, 19 Mar 2013 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221607 The High Court upheld the ITAT's decisions in both issues, leading to the dismissal of the appeal with no order as to costs. In the first issue, the Tribunal canceled the penalty under Section 271(1)(c) for interest on tax-free bonds due to an inadvertent mistake by the assessee. In the second issue, the Tribunal overturned the penalty for treating premium on debentures as income from other sources, as it was a dispute over income classification rather than concealment. The High Court found no reason to entertain the questions raised and dismissed the appeal. Case-Laws Income Tax Tue, 26 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221607