https://www.taxtmi.com/caselaws?id=442639 The Tribunal dismissed the Department's appeal, affirming the CIT(A)'s findings that the assessee's mistake was inadvertent and bona fide. The CIT(A) and Tribunal held that penalties were not warranted for the Chartered Accountant's oversight, citing Price Waterhouse Coopers Pvt. Ltd. as precedent. The reduction in capital loss was deemed irrelevant for penalty imposition. The appeal was rejected without costs, as no substantial legal questions were identified. en-us Mon, 28 Aug 2023 00:00:00 +0530 Wed, 06 Sep 2023 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442639 The Tribunal dismissed the Department's appeal, affirming the CIT(A)'s findings that the assessee's mistake was inadvertent and bona fide. The CIT(A) and Tribunal held that penalties were not warranted for the Chartered Accountant's oversight, citing Price Waterhouse Coopers Pvt. Ltd. as precedent. The reduction in capital loss was deemed irrelevant for penalty imposition. The appeal was rejected without costs, as no substantial legal questions were identified. Case-Laws Income Tax Mon, 28 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442639