https://www.taxtmi.com/highlights?id=70883 Penalty u/s 271(1)(c) - wrongful claim of lower LTCG - Disallowance u/s 94(7) - Dividend Striping - proof of bonafied mistake - ITAT deleted the penalty - Since the assessee had voluminous transactions, it committed an error while posting the relevant dividend entry, which was covered by one voucher since it was received on the same security. - Tribunal has observed that it was a reasonable human error - The assessee has proven that it was a bonafide mistake and no substantial question of law would arise - Appeal of the revenue dismissed - HC en-us Thu, 13 Jul 2023 13:39:47 +0530 Thu, 13 Jul 2023 13:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70883 Penalty u/s 271(1)(c) - wrongful claim of lower LTCG - Disallowance u/s 94(7) - Dividend Striping - proof of bonafied mistake - ITAT deleted the penalty - Since the assessee had voluminous transactions, it committed an error while posting the relevant dividend entry, which was covered by one voucher since it was received on the same security. - Tribunal has observed that it was a reasonable human error - The assessee has proven that it was a bonafide mistake and no substantial question of law would arise - Appeal of the revenue dismissed - HC Highlights Income Tax Thu, 13 Jul 2023 13:39:47 +0530 https://www.taxtmi.com/highlights?id=70883