https://www.taxtmi.com/caselaws?id=188990 The Tribunal upheld the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income by misclassifying short-term capital gain as long-term capital gain. The decision confirmed that the misclassification was not a bonafide mistake, as the error was detected during scrutiny and not voluntarily disclosed by the assessee. The Tribunal found no justification to waive the penalty and upheld the decisions of the Assessing Officer and Commissioner of Income-tax (Appeals). en-us Wed, 13 Apr 2011 00:00:00 +0530 Thu, 22 Dec 2016 17:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188990 The Tribunal upheld the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income by misclassifying short-term capital gain as long-term capital gain. The decision confirmed that the misclassification was not a bonafide mistake, as the error was detected during scrutiny and not voluntarily disclosed by the assessee. The Tribunal found no justification to waive the penalty and upheld the decisions of the Assessing Officer and Commissioner of Income-tax (Appeals). Case-Laws Income Tax Wed, 13 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188990