https://www.taxtmi.com/highlights?id=35530 Penalty u/s 271 (1)(C) - purchasing the shares at higher price - The explanation is also accepted by the Tribunal that any attempt to purchase the shares in such bulk quantity directly from the open market could have resulted in increase in the price of shares on the stock exchange resulting into loss to the Assessee. - no penalty en-us Wed, 19 Jul 2017 13:18:54 +0530 Wed, 19 Jul 2017 13:18:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=35530 Penalty u/s 271 (1)(C) - purchasing the shares at higher price - The explanation is also accepted by the Tribunal that any attempt to purchase the shares in such bulk quantity directly from the open market could have resulted in increase in the price of shares on the stock exchange resulting into loss to the Assessee. - no penalty Highlights Income Tax Wed, 19 Jul 2017 13:18:54 +0530 https://www.taxtmi.com/highlights?id=35530