https://www.taxtmi.com/caselaws?id=376531 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act on the appellant for failure to disclose short-term capital gains correctly, deeming the omission as deliberate rather than inadvertent. The Tribunal found no merit in the appellant's arguments and dismissed the appeal, emphasizing the requirement for circumstantial evidence to support claims of inadvertent errors. The decision was in favor of the Revenue authorities, confirming the penalty against the appellant. en-us Fri, 31 Aug 2018 00:00:00 +0530 Fri, 08 Mar 2019 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376531 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act on the appellant for failure to disclose short-term capital gains correctly, deeming the omission as deliberate rather than inadvertent. The Tribunal found no merit in the appellant's arguments and dismissed the appeal, emphasizing the requirement for circumstantial evidence to support claims of inadvertent errors. The decision was in favor of the Revenue authorities, confirming the penalty against the appellant. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376531