Monday, March 16, 2015

[aaykarbhavan] No penalty on disallowance of capital gains if disclosure was made to identify investment and stock-in-trade



No penalty on disallowance of capital gains if disclosure was made to identify investment and stock-in-trade

March 14, 2015[2015] 54 taxmann.com 211 (Delhi)/[2015] 229 Taxman 433 (Delhi)
IT : Where assessee had disclosed all particulars relating to capital gain on sale of shares in return and balance sheet, no penalty could be levied under section 271(1)(c) merely because Assessing Officer treated such capital gain as business income of assessee
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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