https://www.taxtmi.com/caselaws?id=279712 The Appellate Tribunal ITAT Delhi deleted the penalty u/s 271(1)(c) for the assessment year 2006-07. The penalty was not imposed due to the inadvertent nature of the mistake in claiming a loss against capital gains, which was rectified by filing a revised return offering the amount for taxation. The tribunal considered the absence of inaccurate particulars or concealment of facts, supported by the acceptance of audited books of account and the involvement of an income-tax consultant in preparing the return. en-us Wed, 26 May 2010 00:00:00 +0530 Tue, 02 Apr 2019 14:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279712 The Appellate Tribunal ITAT Delhi deleted the penalty u/s 271(1)(c) for the assessment year 2006-07. The penalty was not imposed due to the inadvertent nature of the mistake in claiming a loss against capital gains, which was rectified by filing a revised return offering the amount for taxation. The tribunal considered the absence of inaccurate particulars or concealment of facts, supported by the acceptance of audited books of account and the involvement of an income-tax consultant in preparing the return. Case-Laws Income Tax Wed, 26 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279712