Mistake of applying concessional tax rate on long-term cap gain in revised return doesn't call for penalty

July 9, 2015[2015] 58 taxmann.com 312 (Mumbai - Trib.)/[2015] 37 ITR(T) 567 (Mumbai - Trib.)

IT : Where there was no attempt on part of assessee to show long term capital gain in a

different category, merely because a concessional rate of tax was applied in revised return, it would not lead to conclusion that assessee had concealed particulars of income and no penalty could be levied

 [2015] 58 taxmann.com 312 (Mumbai - Trib.)

Assistant Commissioner of Income-tax v. Smt. Cecilia Haresh Chaganlal*