https://www.taxtmi.com/caselaws?id=266611 The Tribunal allowed the assessee's appeal, canceling the penalty confirmed by the Commissioner (Appeals) under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the assessee had not concealed income or furnished inaccurate particulars, as all details were disclosed in the return of income. The dispute regarding the treatment of mutual fund units for indexation purposes was resolved in favor of the assessee, leading to the cancellation of the penalty imposed by the Assessing Officer. en-us Fri, 14 Aug 2015 00:00:00 +0530 Mon, 09 Nov 2015 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266611 The Tribunal allowed the assessee's appeal, canceling the penalty confirmed by the Commissioner (Appeals) under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the assessee had not concealed income or furnished inaccurate particulars, as all details were disclosed in the return of income. The dispute regarding the treatment of mutual fund units for indexation purposes was resolved in favor of the assessee, leading to the cancellation of the penalty imposed by the Assessing Officer. Case-Laws Income Tax Fri, 14 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266611