RAKESH KUMAR JAIN,JAIPUR vs. DCIT,CIRCLE-2, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee is allowed

Bench: Or At The Time Of Hearing Of The Appeal & / Or Modify Any Of The Above Grounds.

house property on April 26, 1991 The Assessing Officer did not accept this explanation and taxed this amount, ie difference of Rs. 1,40,000 as short-term capital gain. No appeal was preferred Therefore, that addition had become final. Thereafter, the Assessing Officer initiated the penalty proceedings under Section 271(1)(c) of the Income

SHRI ANIL GHATIWALA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR