https://www.taxtmi.com/highlights?id=53645 Penalty u/s 271(1)(c) - non disclosure of capital gain - whether the income was taxable in the assessment year 2012-13 as the land in dispute was handed over to the developer but the consideration was not received in the assessment year 2012-13? - the assessee explained that such income was not offered to tax under the bona fides believe that the same would be taxable upon the completion of the entire project. - there cannot be any penalty. en-us Tue, 09 Jun 2020 14:22:19 +0530 Tue, 09 Jun 2020 14:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53645 Penalty u/s 271(1)(c) - non disclosure of capital gain - whether the income was taxable in the assessment year 2012-13 as the land in dispute was handed over to the developer but the consideration was not received in the assessment year 2012-13? - the assessee explained that such income was not offered to tax under the bona fides believe that the same would be taxable upon the completion of the entire project. - there cannot be any penalty. Highlights Income Tax Tue, 09 Jun 2020 14:22:19 +0530 https://www.taxtmi.com/highlights?id=53645