2018 (6) TMI 1580

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..... e from penal action provided under Section 271 [1](c) - HELD THAT:- Issue pertains to penalty. Quantum additions have been confirmed upto the stage of the Tribunal. The Department desired to levy penalty from the assessee. The Tribunal, however, deleted the penalty principally on the ground that the full disclosures were made and the issue was not free from doubt. In the opinion of the Tribunal, t .....

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..... the case, the Tribunal has erred in law and on facts in deleting the penalty of ₹ 1,28,78,000/= levied under Section 271 [1](c) of the Incometax Act with respect to addition of ₹ 6,43,60,000/= on account of capital gain wrongly claimed as exempt by the assessee? [ B] Whether in the facts and circumstances of the case, the Tribunal has erred in law and on facts in deleting .....

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