https://www.taxtmi.com/caselaws?id=27150 The High Court dismissed the application under section 256(2) of the Income-tax Act, 1961, as it found no question of law arising from the Tribunal's order. The Court concluded that the matter was factual and that the assessee had adequately proven that there was no concealment or fraud in the income reported. The penalty imposed under section 271(1)(c) was set aside by the Tribunal due to lack of evidence supporting the Department's allegations. The Court denied the reference of questions of law to the High Court and did not award costs. en-us Thu, 06 Sep 1984 00:00:00 +0530 Thu, 11 Feb 2010 11:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27150 The High Court dismissed the application under section 256(2) of the Income-tax Act, 1961, as it found no question of law arising from the Tribunal's order. The Court concluded that the matter was factual and that the assessee had adequately proven that there was no concealment or fraud in the income reported. The penalty imposed under section 271(1)(c) was set aside by the Tribunal due to lack of evidence supporting the Department's allegations. The Court denied the reference of questions of law to the High Court and did not award costs. Case-Laws Income Tax Thu, 06 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27150