https://www.taxtmi.com/caselaws?id=329371 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete penalties under Section 271(1)(c) as the quantum additions were deleted. The penalties related to accrued interest on OFCPNs of Nirma Industries Ltd. and short-term capital gains on the sale of DDBs of Nirma Ltd. and transaction of strips of TATA Finance Ltd. were deemed unsustainable due to correct classification as long-term capital gains. The Revenue's appeal was dismissed on 3rd June 2016. en-us Fri, 03 Jun 2016 00:00:00 +0530 Thu, 30 Jun 2016 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329371 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete penalties under Section 271(1)(c) as the quantum additions were deleted. The penalties related to accrued interest on OFCPNs of Nirma Industries Ltd. and short-term capital gains on the sale of DDBs of Nirma Ltd. and transaction of strips of TATA Finance Ltd. were deemed unsustainable due to correct classification as long-term capital gains. The Revenue's appeal was dismissed on 3rd June 2016. Case-Laws Income Tax Fri, 03 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329371