https://www.taxtmi.com/caselaws?id=37669 The High Court ruled in favor of the assessee, finding that the penalty for concealment of income was not justified as there was a lack of independent evidence of concealment. The Court also determined that the CIT's letter did not constitute an order under Section 271(4A) of the Income Tax Act. Therefore, the penalty imposed was deemed unjustified, and the Court answered the relevant questions in favor of the assessee. en-us Thu, 14 Jul 1977 00:00:00 +0530 Wed, 31 Mar 2010 12:26:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37669 The High Court ruled in favor of the assessee, finding that the penalty for concealment of income was not justified as there was a lack of independent evidence of concealment. The Court also determined that the CIT's letter did not constitute an order under Section 271(4A) of the Income Tax Act. Therefore, the penalty imposed was deemed unjustified, and the Court answered the relevant questions in favor of the assessee. Case-Laws Income Tax Thu, 14 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37669