https://www.taxtmi.com/caselaws?id=26377 The High Court held that the Tribunal erred in ruling out the consideration of the Explanation to section 271(1)(c) merely because it was not invoked by the Income-tax Officer or Appellate Assistant Commissioner. The Explanation was applicable as the returned income was less than 80% of the assessed income, and the Tribunal should have considered it. Consequently, the question was answered in the negative, in favor of the Revenue and against the assessee, with no order as to costs. en-us Wed, 09 Oct 1985 00:00:00 +0530 Thu, 04 Feb 2010 15:33:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26377 The High Court held that the Tribunal erred in ruling out the consideration of the Explanation to section 271(1)(c) merely because it was not invoked by the Income-tax Officer or Appellate Assistant Commissioner. The Explanation was applicable as the returned income was less than 80% of the assessed income, and the Tribunal should have considered it. Consequently, the question was answered in the negative, in favor of the Revenue and against the assessee, with no order as to costs. Case-Laws Income Tax Wed, 09 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26377