https://www.taxtmi.com/caselaws?id=181046 The Tribunal allowed the appeal, holding that the penalty u/s 271(1)(c) was not justified. The assessee's interpretation of the transactions as capital gains was deemed bona fide, supported by initial AO acceptance. The Tribunal found no concealment or inaccurate particulars, deleting the penalty. The change in receipt interpretation led to assessment enhancement, not due to the assessee's actions. en-us Fri, 29 Oct 1999 00:00:00 +0530 Wed, 06 Apr 2016 12:57:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181046 The Tribunal allowed the appeal, holding that the penalty u/s 271(1)(c) was not justified. The assessee's interpretation of the transactions as capital gains was deemed bona fide, supported by initial AO acceptance. The Tribunal found no concealment or inaccurate particulars, deleting the penalty. The change in receipt interpretation led to assessment enhancement, not due to the assessee's actions. Case-Laws Income Tax Fri, 29 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181046