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of <h1>Partnership firm penalized for concealing income and distributing undisclosed profits to partners.</h1> The High Court of Allahabad upheld a penalty of Rs. 6,234 on a partnership firm for concealing income and distributing larger profits to partners than ... Question Of Fact The High Court of Allahabad upheld a penalty of Rs. 6,234 on a partnership firm for concealing income, as it distributed larger profits to partners than declared and did not disclose income from interest and property. The court found no justification for the firm's actions and dismissed the application with costs of Rs. 100.
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