Taxpayer Penalized for Misclaiming Concessional Tax Rate on Share Gains; Penalty Confirmed u/s 271(1)(c.

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....Levying penalty u/s 271(l)(c) - claiming concessional rate of income-tax on short term capital gains on shares within provisions of Section 111A as against chargeability of business income at normal rates of income-tax - Assessee has made bald statement - Penalty confirmed.....