https://www.taxtmi.com/caselaws?id=189257 The Tribunal dismissed both the assessee's appeal and the revenue department's appeal. The disallowance of set-off of carried forward short term capital loss was upheld, emphasizing that findings from earlier years could not be altered in the current appeal. The cancellation of penalty under section 271(1)(c) of the IT Act was affirmed, as it was deemed a matter of difference of opinion rather than intentional concealment of income. The Tribunal concurred that there was no deliberate attempt to furnish inaccurate particulars, leading to the dismissal of the departmental appeal. en-us Fri, 30 Sep 2011 00:00:00 +0530 Tue, 03 Jan 2017 16:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189257 The Tribunal dismissed both the assessee's appeal and the revenue department's appeal. The disallowance of set-off of carried forward short term capital loss was upheld, emphasizing that findings from earlier years could not be altered in the current appeal. The cancellation of penalty under section 271(1)(c) of the IT Act was affirmed, as it was deemed a matter of difference of opinion rather than intentional concealment of income. The Tribunal concurred that there was no deliberate attempt to furnish inaccurate particulars, leading to the dismissal of the departmental appeal. Case-Laws Income Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189257