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of <h1>Transfer of Truck to Partnership Post-Assessee's Death Not Sale: Penalty Invalid</h1> The High Court of Madhya Pradesh held that the penalty imposed on the transfer of a truck to a partnership after the assessee's death was not justified as ... Penalty The High Court of Madhya Pradesh declined to answer questions 1 and 2 regarding the transfer of a truck to a partnership and the imposition of a penalty after the assessee's death. The court held that the penalty imposed was not justified as the transaction did not constitute a sale, and therefore, there was no concealment of income. The penalty of Rs. 7,000 was not legally correct.
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