https://www.taxtmi.com/caselaws?id=361264 The Tribunal allowed the assessee's appeal, confirming the long-term capital loss on the sale of shares as genuine and permitting the set-off against compensation received. The imposition of penalty under Section 271(1)(c) was overturned due to the legitimacy of the capital loss. The Tribunal directed the Assessing Officer to delete the penalty. en-us Wed, 30 May 2018 00:00:00 +0530 Mon, 04 Jun 2018 07:13:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361264 The Tribunal allowed the assessee's appeal, confirming the long-term capital loss on the sale of shares as genuine and permitting the set-off against compensation received. The imposition of penalty under Section 271(1)(c) was overturned due to the legitimacy of the capital loss. The Tribunal directed the Assessing Officer to delete the penalty. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361264