Penalty u/s 271(1)(c) - inadvertent omission - when the assessee ...

No Penalty Imposed for Human Error in Omitting LTCG from Income Return u/s 271(1)(c) of Income Tax Act.

July 27, 2019

Case Laws Income Tax AT

Penalty u/s 271(1)(c) - inadvertent omission - when the assessee had disclosed the deduction pertaining to sale of the three shops from the ‘block of assets’ in its balance sheet then there is substantial force in its claim that the failure to offer LTCG on the sale of the said shops had inadvertently remained omitted to be shown in the return of income - only be described as a human error - no penalty

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Penalty u/s 271(1)(c) - inadvertent omission - when the assessee ...

No Penalty Imposed for Human Error in Omitting LTCG from Income Return u/s 271(1)(c) of Income Tax Act.

July 27, 2019

Case Laws Income Tax AT

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