https://www.taxtmi.com/caselaws?id=6474 The penalty dispute turned on the Tribunal's acceptance of the assessee's explanation that the amount had been assessed in its hands because of an arrangement with an allied concern. The finding on concealment was based on those accepted facts rather than on any legal principle, so no question of law arose from the Tribunal's order for a reference under section 66(2). Although the High Court should have given reasons when dismissing the application, the record still disclosed no referable legal issue, and the refusal to require a reference was therefore justified in substance. en-us Fri, 19 Mar 1976 00:00:00 +0530 Fri, 24 Apr 2015 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6474 The penalty dispute turned on the Tribunal's acceptance of the assessee's explanation that the amount had been assessed in its hands because of an arrangement with an allied concern. The finding on concealment was based on those accepted facts rather than on any legal principle, so no question of law arose from the Tribunal's order for a reference under section 66(2). Although the High Court should have given reasons when dismissing the application, the record still disclosed no referable legal issue, and the refusal to require a reference was therefore justified in substance. Case-Laws Income Tax Fri, 19 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6474