https://www.taxtmi.com/caselaws?id=236224 The Tribunal ruled in favor of the assessee, holding that the penalty imposed by the Assessing Officer under section 271(1)(c) of the Act for non-disclosure of long term capital gain was not justified. Citing precedents where penalties were deleted for similar non-disclosures, the Tribunal concluded that the penalty in the present case should also be deleted. As a result, the Tribunal allowed all the appeals of the assessee, overturning the penalties imposed for non-disclosure of long term capital gain in the original return but subsequently declared with an application under Section 273A. en-us Fri, 19 Jul 2013 00:00:00 +0530 Mon, 19 Aug 2013 08:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236224 The Tribunal ruled in favor of the assessee, holding that the penalty imposed by the Assessing Officer under section 271(1)(c) of the Act for non-disclosure of long term capital gain was not justified. Citing precedents where penalties were deleted for similar non-disclosures, the Tribunal concluded that the penalty in the present case should also be deleted. As a result, the Tribunal allowed all the appeals of the assessee, overturning the penalties imposed for non-disclosure of long term capital gain in the original return but subsequently declared with an application under Section 273A. Case-Laws Income Tax Fri, 19 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236224