https://www.taxtmi.com/caselaws?id=257945 The Tribunal allowed both appeals in favor of the assessee. The delay in filing the appeal was condoned due to valid reasons beyond the assessee's control. The income from the sale of shares was assessed as long-term capital gains based on genuine evidence, overturning the previous classification as income from other sources. The penalty under section 271(1)(c) was deleted as there was no concealment or inaccuracies in the income declaration. en-us Wed, 18 Mar 2015 00:00:00 +0530 Fri, 27 Mar 2015 06:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257945 The Tribunal allowed both appeals in favor of the assessee. The delay in filing the appeal was condoned due to valid reasons beyond the assessee's control. The income from the sale of shares was assessed as long-term capital gains based on genuine evidence, overturning the previous classification as income from other sources. The penalty under section 271(1)(c) was deleted as there was no concealment or inaccuracies in the income declaration. Case-Laws Income Tax Wed, 18 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257945