https://www.taxtmi.com/caselaws?id=362069 The Tribunal held that the assessee's claim of long-term capital loss was bona fide and based on mandatory accounting principles. The penalty under Section 271(1)(c) was deemed incorrect as the assessee did not furnish inaccurate particulars of income. The Tribunal directed the AO to delete the penalty, allowing the appeal filed by the assessee. en-us Fri, 15 Jun 2018 00:00:00 +0530 Mon, 18 Jun 2018 22:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362069 The Tribunal held that the assessee's claim of long-term capital loss was bona fide and based on mandatory accounting principles. The penalty under Section 271(1)(c) was deemed incorrect as the assessee did not furnish inaccurate particulars of income. The Tribunal directed the AO to delete the penalty, allowing the appeal filed by the assessee. Case-Laws Income Tax Fri, 15 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362069