https://www.taxtmi.com/caselaws?id=249730 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, confirming that the assessee's treatment of the loss on the sale of capital assets as a revenue loss constituted furnishing inaccurate particulars of income. The Tribunal found no legal flaws in the AO and FAA's decisions, dismissing the appeal and affirming the penalty. en-us Wed, 11 Jun 2014 00:00:00 +0530 Tue, 22 Jul 2014 17:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249730 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, confirming that the assessee's treatment of the loss on the sale of capital assets as a revenue loss constituted furnishing inaccurate particulars of income. The Tribunal found no legal flaws in the AO and FAA's decisions, dismissing the appeal and affirming the penalty. Case-Laws Income Tax Wed, 11 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249730