Taxpayer Avoids Penalty u/s 271(1)(c) for Short-Term Capital Gains; Architect's Valuation Partly Accepted by CIT(A).

Taxpayer Avoids Penalty u/s 271(1)(c) for Short-Term Capital Gains; Architect's Valuation Partly Accepted by CIT(A). https://www.taxtmi.com/highlights?id=46785 Penalty u/s 271(1)(c) - assessee had not withheld any relevant information regarding the short term capital gains from the AO which was based on the valuation report of an architect which was partly accepted by the Ld. CIT (A) - there is no factual finding that the assessee had furnished any inaccurate particulars while bifurcating the value between land and buildings while computing STCG - no penalty en-us Mon, 27 May 2019 07:25:19 +0530 Mon, 27 May 2019 07:25:19 +0530 TaxTMI RSS Generator Taxpayer Avoids Penalty u/s 271(1)(c) for Short-Term Capital Gains; Architect's Valuation Partly Accepted by CIT(A). https://www.taxtmi.com/highlights?id=46785 Penalty u/s 271(1)(c) - assessee had not withheld any relevant information regarding the short term capital gains from the AO which was based on the valuation report of an architect which was partly accepted by the Ld. CIT (A) - there is no factual finding that the assessee had furnished any inaccurate particulars while bifurcating the value between land and buildings while computing STCG - no penalty Highlights Income Tax Mon, 27 May 2019 07:25:19 +0530 https://www.taxtmi.com/highlights?id=46785