https://www.taxtmi.com/caselaws?id=245162 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty under section 271(1)(c). The Tribunal found that the assessee had a bonafide belief regarding the calculation of the three-month period for the sale of securities, leading to the redemption not falling within the specified timeframe. There was no evidence of concealment or furnishing inaccurate particulars, supporting the Commissioner (Appeals)'s decision to delete the penalty. The Tribunal's ruling was pronounced on 14th March 2014. en-us Fri, 14 Mar 2014 00:00:00 +0530 Fri, 21 Mar 2014 14:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245162 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty under section 271(1)(c). The Tribunal found that the assessee had a bonafide belief regarding the calculation of the three-month period for the sale of securities, leading to the redemption not falling within the specified timeframe. There was no evidence of concealment or furnishing inaccurate particulars, supporting the Commissioner (Appeals)'s decision to delete the penalty. The Tribunal's ruling was pronounced on 14th March 2014. Case-Laws Income Tax Fri, 14 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245162