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of <h1>High Court rules in favor of assessee under Income-tax Act, finding no dishonesty.</h1> The High Court of Allahabad ruled in favor of the assessee in a reference under section 256(2) of the Income-tax Act, 1961, affirming that the assessee ... Question of law - 'Whether, Tribunal was legally correct in its opinion that looking to the totality of the circumstances it could not be said that the assessee acted in conscious disregard of the statutory obligations or its conduct was in any way dishonest or contumacious?' - In the Tribunal's appellate order a finding of fact has been recorded that it cannot be said that the assessee acted in conscious disregard of the statutory obligations or that its conduct was in any way dishonest or contumacious. This is a finding of fact and we cannot interfere with it on this reference. The question referred to us is therefore decided in the affirmative, i.e., in favour of the assessee and against the Department. The High Court of Allahabad decided in favor of the assessee in a reference under section 256(2) of the Income-tax Act, 1961. The Tribunal found that the assessee did not act dishonestly or in conscious disregard of statutory obligations. The Court upheld this finding, ruling in favor of the assessee and against the Department.
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