https://www.taxtmi.com/caselaws?id=434292 The Appellate Tribunal upheld the decision of the ld. Commissioner of Income Tax (Appeals) to partially allow the assessee's appeal against the penalty imposed under section 271(1)(c) for the assessment year 2014-15. The Tribunal found the mistake in computation to be inadvertent, emphasizing the lack of necessary documentation at the time of filing the return. The Department's appeal challenging the relief granted to the assessee was dismissed, affirming the decision of the ld. CIT(A) to ignore the reduction in capital loss for penalty imposition. en-us Fri, 17 Feb 2023 00:00:00 +0530 Tue, 21 Feb 2023 08:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434292 The Appellate Tribunal upheld the decision of the ld. Commissioner of Income Tax (Appeals) to partially allow the assessee's appeal against the penalty imposed under section 271(1)(c) for the assessment year 2014-15. The Tribunal found the mistake in computation to be inadvertent, emphasizing the lack of necessary documentation at the time of filing the return. The Department's appeal challenging the relief granted to the assessee was dismissed, affirming the decision of the ld. CIT(A) to ignore the reduction in capital loss for penalty imposition. Case-Laws Income Tax Fri, 17 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434292