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of <h1>Allahabad HC Upholds Tribunal Decision Canceling Penalties</h1> <h3>Commissioner of Income-tax Versus Jagdish Saree Bhandar</h3> The Allahabad HC upheld the Tribunal's decision in favor of the assessee, finding no concealment of income or inaccurate particulars for the assessment ... - The Allahabad High Court heard an income-tax reference related to assessment years 1968-69 and 1969-70. The Tribunal found that the assessee did not conceal income or file inaccurate particulars, cancelling penalties imposed by the IAC. The High Court upheld the Tribunal's decision in favor of the assessee.
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