https://www.taxtmi.com/caselaws?id=456497 The Tribunal allowed the appeal in favor of the assessee, directing the AO to accept the audit report and grant the benefit under section 50B of the Income Tax Act. The Tribunal resolved the issue of computing gains at a 30% rate by accepting the assessee's claim for a 20% rate. The Tribunal deemed the penalty proceedings under section 274 r.w.s 271 premature and did not adjudicate on this matter. en-us Wed, 20 Feb 2019 00:00:00 +0530 Tue, 30 Jul 2024 20:10:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456497 The Tribunal allowed the appeal in favor of the assessee, directing the AO to accept the audit report and grant the benefit under section 50B of the Income Tax Act. The Tribunal resolved the issue of computing gains at a 30% rate by accepting the assessee's claim for a 20% rate. The Tribunal deemed the penalty proceedings under section 274 r.w.s 271 premature and did not adjudicate on this matter. Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456497