https://www.taxtmi.com/caselaws?id=398452 The Tribunal ruled that turnover in derivative transactions should be calculated based on positive and negative outcomes, not total transaction volume. As the AO incorrectly computed turnover, the penalty under section 271A was deemed unjustified. The penalty of Rs. 25,000/- was removed, and the appeal was granted in favor of the assessee. en-us Mon, 07 Sep 2020 00:00:00 +0530 Wed, 16 Sep 2020 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398452 The Tribunal ruled that turnover in derivative transactions should be calculated based on positive and negative outcomes, not total transaction volume. As the AO incorrectly computed turnover, the penalty under section 271A was deemed unjustified. The penalty of Rs. 25,000/- was removed, and the appeal was granted in favor of the assessee. Case-Laws Income Tax Mon, 07 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398452