https://www.taxtmi.com/caselaws?id=266328 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income-tax Act, 1961 in a case involving the treatment of income from share trading. The Tribunal emphasized that penalties should not be imposed when there is a genuine dispute on income classification. The decision aligned with the previous year's ruling, emphasizing the importance of considering specific facts before levying penalties under tax laws. en-us Fri, 05 Jun 2015 00:00:00 +0530 Tue, 20 Oct 2015 19:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266328 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income-tax Act, 1961 in a case involving the treatment of income from share trading. The Tribunal emphasized that penalties should not be imposed when there is a genuine dispute on income classification. The decision aligned with the previous year's ruling, emphasizing the importance of considering specific facts before levying penalties under tax laws. Case-Laws Income Tax Fri, 05 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266328