Penalty U/s. 271(1)(c) - claim of exemption u/s 10(38) whereas ...

No Penalty for Misreported Gains: Section 271(1)(c) Examines Share Sale Outside Exchange, Valuation Method Dispute, and Gains Misclassification.

September 28, 2015

Case Laws Income Tax AT

Penalty U/s. 271(1)(c) - claim of exemption u/s 10(38) whereas sale of shares was not through stock exchange - company adopted LIFO method where as AO adopted FIFO method for valuation of shares - LTCG claimed as STCG and setting off to the business loss claimed - this is not a fit case for levying penalty - AT

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Penalty U/s. 271(1)(c) - claim of exemption u/s 10(38) whereas ...

No Penalty for Misreported Gains: Section 271(1)(c) Examines Share Sale Outside Exchange, Valuation Method Dispute, and Gains Misclassification.

September 28, 2015

Case Laws Income Tax AT

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