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

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

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

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