https://www.taxtmi.com/caselaws?id=264976 The Tribunal allowed the appeal, concluding that the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income was unjustified. The Tribunal found that while section 50C was correctly applied for capital gain computation, there was no evidence of income concealment or inaccurate particulars by the assessee. The full disclosure of relevant documents during assessment supported the lack of inaccurate particulars, leading to the deletion of the penalty. en-us Fri, 04 Sep 2015 00:00:00 +0530 Mon, 09 Nov 2015 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264976 The Tribunal allowed the appeal, concluding that the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income was unjustified. The Tribunal found that while section 50C was correctly applied for capital gain computation, there was no evidence of income concealment or inaccurate particulars by the assessee. The full disclosure of relevant documents during assessment supported the lack of inaccurate particulars, leading to the deletion of the penalty. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264976