https://www.taxtmi.com/caselaws?id=421511 The Tribunal ruled in favor of the assessee, classifying the gains arising from the surrender of rights to acquire flats as long-term capital gains. The Tribunal dismissed the appeal regarding the rejection of the application for rectification under section 154 as infructuous. Additionally, the Tribunal upheld the deletion of the penalty levied under section 271(1)(c), leading to the dismissal of the revenue's appeal and allowing the assessee's appeals. en-us Fri, 22 Apr 2022 00:00:00 +0530 Mon, 25 Apr 2022 22:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421511 The Tribunal ruled in favor of the assessee, classifying the gains arising from the surrender of rights to acquire flats as long-term capital gains. The Tribunal dismissed the appeal regarding the rejection of the application for rectification under section 154 as infructuous. Additionally, the Tribunal upheld the deletion of the penalty levied under section 271(1)(c), leading to the dismissal of the revenue's appeal and allowing the assessee's appeals. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421511