https://www.taxtmi.com/caselaws?id=281647 The Tribunal allowed the appeals, ruling that the discrepancy in the classification of income between the assessees and the Assessing Officer regarding Stock Appreciation Rights did not warrant a penalty under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal held that the disagreement did not amount to concealment or inaccurate reporting, as the assessees had disclosed the rights and gains in their returns. Consequently, the penalty was deemed unwarranted, and the lower authorities' decisions were overturned, resulting in the deletion of the penalty. en-us Tue, 24 Jul 2018 00:00:00 +0530 Sat, 29 Jun 2019 05:41:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281647 The Tribunal allowed the appeals, ruling that the discrepancy in the classification of income between the assessees and the Assessing Officer regarding Stock Appreciation Rights did not warrant a penalty under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal held that the disagreement did not amount to concealment or inaccurate reporting, as the assessees had disclosed the rights and gains in their returns. Consequently, the penalty was deemed unwarranted, and the lower authorities' decisions were overturned, resulting in the deletion of the penalty. Case-Laws Income Tax Tue, 24 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281647