56 results for “capital gains”+ Section 270A(9)clear
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In the result, the appeal of the assessee is partly allowed
Bench: BEFORE: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)
270A were initiated as the AO opined that the appellant had unreported/misreported the income. Since the penalty proceedings initiated were backed by valid reasons, this ground of appeal is dismissed. Further, Penalty proceedings were initiated and penalty if any will be levied by the AO by a separate order. Therefore, this ground is premature, not sustainable and hence, dismissed