https://www.taxtmi.com/caselaws?id=177332 The Tribunal ruled in favor of the assessee, holding that the penalty of &8377; 41,96,900 imposed under section 271(1)(c) for treating short term capital gain as business income was unwarranted. The Tribunal found that the discrepancy in income classification did not amount to concealment or furnishing inaccurate particulars, leading to the deletion of the penalty and allowing the assessee's appeal. en-us Tue, 30 Apr 2013 00:00:00 +0530 Thu, 07 Jan 2016 12:12:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177332 The Tribunal ruled in favor of the assessee, holding that the penalty of &8377; 41,96,900 imposed under section 271(1)(c) for treating short term capital gain as business income was unwarranted. The Tribunal found that the discrepancy in income classification did not amount to concealment or furnishing inaccurate particulars, leading to the deletion of the penalty and allowing the assessee's appeal. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177332