https://www.taxtmi.com/caselaws?id=236896 The Tribunal upheld the CIT(A)'s order confirming the penalty imposed by the AO under section 271(1)(c) for the addition made on account of long-term capital gains. The appeal was dismissed as the assessee failed to demonstrate that the mistake in claiming exemption under section 10(38) was genuine and bonafide, and had not fully disclosed all relevant facts. The Tribunal concluded that the penalty imposition was justified in this case. en-us Fri, 14 Dec 2012 00:00:00 +0530 Thu, 12 Sep 2013 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236896 The Tribunal upheld the CIT(A)'s order confirming the penalty imposed by the AO under section 271(1)(c) for the addition made on account of long-term capital gains. The appeal was dismissed as the assessee failed to demonstrate that the mistake in claiming exemption under section 10(38) was genuine and bonafide, and had not fully disclosed all relevant facts. The Tribunal concluded that the penalty imposition was justified in this case. Case-Laws Income Tax Fri, 14 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236896