https://www.taxtmi.com/caselaws?id=277465 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. It directed the deletion of the penalty on the interest income and upheld the penalty on the short-term capital gain. The Tribunal found the deletion of the penalty on TDR sale receipts justified, considering the bona fide explanation provided by the assessee. The Tribunal emphasized that assessment and penalty proceedings are independent, and the findings in assessment proceedings are not conclusive for penalty imposition. en-us Mon, 25 Aug 2014 00:00:00 +0530 Wed, 05 Dec 2018 06:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277465 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. It directed the deletion of the penalty on the interest income and upheld the penalty on the short-term capital gain. The Tribunal found the deletion of the penalty on TDR sale receipts justified, considering the bona fide explanation provided by the assessee. The Tribunal emphasized that assessment and penalty proceedings are independent, and the findings in assessment proceedings are not conclusive for penalty imposition. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277465