https://www.taxtmi.com/caselaws?id=176573 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for inaccurate particulars in capital gain computation under section 50C of the Income Tax Act. The Tribunal found that the assessee had provided all necessary details and documents for Short term Capital Gain computation based on actual sale consideration, emphasizing genuine disclosure and no concealment of income particulars. The penalty was deemed unjustified, leading to the dismissal of the revenue's appeal. en-us Wed, 10 Dec 2014 00:00:00 +0530 Thu, 24 Dec 2015 23:11:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176573 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for inaccurate particulars in capital gain computation under section 50C of the Income Tax Act. The Tribunal found that the assessee had provided all necessary details and documents for Short term Capital Gain computation based on actual sale consideration, emphasizing genuine disclosure and no concealment of income particulars. The penalty was deemed unjustified, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Wed, 10 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176573