https://www.taxtmi.com/caselaws?id=177768 The High Court dismissed the appeal, upholding the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found no concealment of income or filing of inaccurate particulars by the assessee regarding the assessment of short term capital gain, disallowance of Professional Development Expenses, and disallowance of Advertisement Expenses. The penalty was deleted due to the lack of evidence proving concealment, and the Court found no legal issue to consider in the case. en-us Mon, 17 Aug 2009 00:00:00 +0530 Sun, 03 Sep 2023 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177768 The High Court dismissed the appeal, upholding the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found no concealment of income or filing of inaccurate particulars by the assessee regarding the assessment of short term capital gain, disallowance of Professional Development Expenses, and disallowance of Advertisement Expenses. The penalty was deleted due to the lack of evidence proving concealment, and the Court found no legal issue to consider in the case. Case-Laws Income Tax Mon, 17 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177768