https://www.taxtmi.com/caselaws?id=786155 Recharacterisation of share sale proceeds was contested as income while the assessee treated the amount as long term capital gain in the return; absence of concealment or filing of inaccurate particulars means the statutory prerequisites for imposing a penalty were not met, and the penalty imposed under the tax penal provision was therefore held unjustified and deleted. The conclusion rests on the AO's failure to establish either concealment of particulars or inaccurate particulars of income, leading to allowance of the assessee's appeal and removal of the penalty. en-us Tue, 06 Jan 2026 00:00:00 +0530 Fri, 06 Feb 2026 17:37:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786155 Recharacterisation of share sale proceeds was contested as income while the assessee treated the amount as long term capital gain in the return; absence of concealment or filing of inaccurate particulars means the statutory prerequisites for imposing a penalty were not met, and the penalty imposed under the tax penal provision was therefore held unjustified and deleted. The conclusion rests on the AO's failure to establish either concealment of particulars or inaccurate particulars of income, leading to allowance of the assessee's appeal and removal of the penalty. Case-Laws Income Tax Tue, 06 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786155