https://www.taxtmi.com/caselaws?id=423246 Penalty for concealment was not exigible where the assessee's capital gains computation error stemmed from a bona fide bookkeeping mistake and was corrected at the first opportunity. The Tribunal accepted that dividend entries were wrongly posted by staff in a large volume of transactions, that the assessee furnished the relevant details during assessment, and that the revised computation was promptly filed once the discrepancy was noticed. The finding of no intention to evade tax was treated as a plausible appreciation of evidence, and the deletion of penalty was upheld. en-us Wed, 25 May 2022 00:00:00 +0530 Fri, 11 Aug 2023 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423246 Penalty for concealment was not exigible where the assessee's capital gains computation error stemmed from a bona fide bookkeeping mistake and was corrected at the first opportunity. The Tribunal accepted that dividend entries were wrongly posted by staff in a large volume of transactions, that the assessee furnished the relevant details during assessment, and that the revised computation was promptly filed once the discrepancy was noticed. The finding of no intention to evade tax was treated as a plausible appreciation of evidence, and the deletion of penalty was upheld. Case-Laws Income Tax Wed, 25 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423246