MS. LEELA MONDAL,NORTH 24 PARGANAS vs. I.T.O, WD -50(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

u/s 271(1)(c) of the Income-tax Act, 1961, and levied penalty. The Tribunal reduced the penalty. On further appeal to the High Court: 3 Ms. Leela Mondal AY 2008-09 'Held, that the assessee had shown "Long Term Capital Gain" and claimed exemption but transaction has been disclosed in the return. There was no concealment of income