https://www.taxtmi.com/caselaws?id=271294 The penalties imposed under Section 271(1)(c) for notional income from house property and short-term capital loss on the sale of a car were deemed unjustified by the Tribunal. The penalties were deleted as there was no deliberate concealment or inaccurate particulars; the additions were based on estimates and differences in interpretation of the law. The appeal by the assessee was allowed, and the order was pronounced on January 22, 2016. en-us Fri, 22 Jan 2016 00:00:00 +0530 Sun, 31 Jan 2016 23:15:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271294 The penalties imposed under Section 271(1)(c) for notional income from house property and short-term capital loss on the sale of a car were deemed unjustified by the Tribunal. The penalties were deleted as there was no deliberate concealment or inaccurate particulars; the additions were based on estimates and differences in interpretation of the law. The appeal by the assessee was allowed, and the order was pronounced on January 22, 2016. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271294