https://www.taxtmi.com/caselaws?id=400586 The Tribunal allowed the appeal filed by the assessee, overturning the penalty levied under section 271(1)(c) of the Act. The Tribunal found the omission of capital gain to be inadvertent and not indicative of deliberate concealment, considering the circumstances of the transaction and the absence of tax impact on the assessed income. en-us Tue, 10 Nov 2020 00:00:00 +0530 Wed, 11 Nov 2020 11:56:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400586 The Tribunal allowed the appeal filed by the assessee, overturning the penalty levied under section 271(1)(c) of the Act. The Tribunal found the omission of capital gain to be inadvertent and not indicative of deliberate concealment, considering the circumstances of the transaction and the absence of tax impact on the assessed income. Case-Laws Income Tax Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400586