https://www.taxtmi.com/caselaws?id=265320 The Tribunal accepted the assessee's explanation for the incorrect cost of acquisition due to a computer software error, ruling out deliberate concealment. Emphasizing the Department's burden to prove concealment, the penalty under section 271(1)(c) was deleted, despite the Department's contentions of deliberate inflation to suppress capital gains. The Tribunal found the error to be inadvertent, as the correct value was documented, leading to the decision in favor of the assessee. en-us Fri, 28 Aug 2015 00:00:00 +0530 Sat, 10 Oct 2015 06:38:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265320 The Tribunal accepted the assessee's explanation for the incorrect cost of acquisition due to a computer software error, ruling out deliberate concealment. Emphasizing the Department's burden to prove concealment, the penalty under section 271(1)(c) was deleted, despite the Department's contentions of deliberate inflation to suppress capital gains. The Tribunal found the error to be inadvertent, as the correct value was documented, leading to the decision in favor of the assessee. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265320