https://www.taxtmi.com/caselaws?id=394577 The Tribunal concluded that the penalty imposed on the assessee under Section 271(1)(c) of the Income Tax Act for filing a belated return and declaring Capital Gains was unwarranted. The Tribunal found the conduct non-contumacious and the error inadvertent, leading to the deletion of the penalty. The lower authorities' orders were set aside, and the penalty was revoked. The Tribunal did not address the jurisdictional issue raised by the assessee, as it was deemed of academic interest only. en-us Thu, 06 Feb 2020 00:00:00 +0530 Fri, 17 Apr 2020 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394577 The Tribunal concluded that the penalty imposed on the assessee under Section 271(1)(c) of the Income Tax Act for filing a belated return and declaring Capital Gains was unwarranted. The Tribunal found the conduct non-contumacious and the error inadvertent, leading to the deletion of the penalty. The lower authorities' orders were set aside, and the penalty was revoked. The Tribunal did not address the jurisdictional issue raised by the assessee, as it was deemed of academic interest only. Case-Laws Income Tax Thu, 06 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394577