https://www.taxtmi.com/highlights?id=84621 Assessee earned long-term and short-term capital gains on share transactions. Tax demand of Rs. 1.45 crores was finally raised on recomputed short-term capital gains of Rs. 40.33 crores. CIT(A) deleted penalty levied u/s 271(1)(c) without considering arguments and precedents. ITAT set aside CIT(A)'s order and restored penalty issue for de novo adjudication by CIT(A). en-us Mon, 06 Jan 2025 08:42:25 +0530 Mon, 06 Jan 2025 08:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84621 Assessee earned long-term and short-term capital gains on share transactions. Tax demand of Rs. 1.45 crores was finally raised on recomputed short-term capital gains of Rs. 40.33 crores. CIT(A) deleted penalty levied u/s 271(1)(c) without considering arguments and precedents. ITAT set aside CIT(A)'s order and restored penalty issue for de novo adjudication by CIT(A). Highlights Income Tax Mon, 06 Jan 2025 08:42:25 +0530 https://www.taxtmi.com/highlights?id=84621