https://www.taxtmi.com/caselaws?id=377012 The Tribunal overturned the penalty imposed under section 271(1)(c) for inaccurate income particulars for AY 2010-11. The error in computation of short-term capital gains was deemed unintentional and not warranting a penalty. The Tribunal found the mistake to be a bona fide error, leading to the deletion of the penalty. The decision was based on erroneous computations admitted by the assessee during assessment, ultimately ruling in favor of the appellant and setting aside the penalty on 18th March 2019. en-us Mon, 18 Mar 2019 00:00:00 +0530 Tue, 19 Mar 2019 15:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377012 The Tribunal overturned the penalty imposed under section 271(1)(c) for inaccurate income particulars for AY 2010-11. The error in computation of short-term capital gains was deemed unintentional and not warranting a penalty. The Tribunal found the mistake to be a bona fide error, leading to the deletion of the penalty. The decision was based on erroneous computations admitted by the assessee during assessment, ultimately ruling in favor of the appellant and setting aside the penalty on 18th March 2019. Case-Laws Income Tax Mon, 18 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377012