https://www.taxtmi.com/caselaws?id=28859 The High Court directed the Tribunal to state a case and make a reference on two questions: 1. Whether the Tribunal misdirected itself in computing the concealed income at Rs. 5,000 as against Rs. 25,071 computed by the IAC and reducing the penalty to Rs. 7,500. 2. Whether the penalty should be imposed based on the law as it stood on the date of the assessment order or the date of filing the return. The High Court rejected the assessee's request for a reference on the validity of the reassessment proceedings. en-us Tue, 31 Jul 1979 00:00:00 +0530 Mon, 08 Mar 2010 12:01:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28859 The High Court directed the Tribunal to state a case and make a reference on two questions: 1. Whether the Tribunal misdirected itself in computing the concealed income at Rs. 5,000 as against Rs. 25,071 computed by the IAC and reducing the penalty to Rs. 7,500. 2. Whether the penalty should be imposed based on the law as it stood on the date of the assessment order or the date of filing the return. The High Court rejected the assessee's request for a reference on the validity of the reassessment proceedings. Case-Laws Income Tax Tue, 31 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28859