https://www.taxtmi.com/caselaws?id=351185 The Co-ordinate Bench ruled in favor of the appellant in a case concerning the imposition of penalty under section 271(1)(c) for trading losses treated as speculative. The appellant successfully argued against the penalty, contending that there were no inaccurate particulars provided and no income was concealed. Citing relevant judicial precedents, including Dy. CIT vs. Shree Ram Electrocast and CIT vs. Harshvardhan Chemicals & Minerals Ltd., the Bench directed the Assessing Officer to delete the penalty, as the facts aligned with previous cases. As a result, the appellant's grounds were accepted, and the appeal was upheld. en-us Wed, 08 Nov 2017 00:00:00 +0530 Tue, 21 Nov 2017 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351185 The Co-ordinate Bench ruled in favor of the appellant in a case concerning the imposition of penalty under section 271(1)(c) for trading losses treated as speculative. The appellant successfully argued against the penalty, contending that there were no inaccurate particulars provided and no income was concealed. Citing relevant judicial precedents, including Dy. CIT vs. Shree Ram Electrocast and CIT vs. Harshvardhan Chemicals & Minerals Ltd., the Bench directed the Assessing Officer to delete the penalty, as the facts aligned with previous cases. As a result, the appellant's grounds were accepted, and the appeal was upheld. Case-Laws Income Tax Wed, 08 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351185