Taxpayer Penalized for Concealing Capital Gain, Violating Section 271(1)(c) by Furnishing Inaccurate Income Details.

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....Penalty u/s. 271(1)(c) - AO has charged the assessee for twin defaults - the assessee has concealed the income arose out of transfer of capital asset and failed to disclose the capital gain in its return of income that tantamount of furnishing of inaccurate particulars of income - Penalty proceedings sustained - AT....