https://www.taxtmi.com/caselaws?id=38565 The High Court dismissed the petition seeking mandamus to compel the Income-tax Appellate Tribunal to refer a specific question on penalty imposition under section 256(2) of the Income-tax Act. The case involved discrepancies in income assessment for a partnership firm engaged in construction work, leading to the disallowance of a deduction for terminal loss and subsequent penalty imposition under section 271(1)(c). The Tribunal's decision to reduce the penalty was upheld, emphasizing factual considerations and compliance with tax laws in penalty determinations. The High Court found no substantial question of law warranting referral, affirming the Tribunal's decision. en-us Mon, 25 Apr 1977 00:00:00 +0530 Wed, 07 Apr 2010 12:39:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38565 The High Court dismissed the petition seeking mandamus to compel the Income-tax Appellate Tribunal to refer a specific question on penalty imposition under section 256(2) of the Income-tax Act. The case involved discrepancies in income assessment for a partnership firm engaged in construction work, leading to the disallowance of a deduction for terminal loss and subsequent penalty imposition under section 271(1)(c). The Tribunal's decision to reduce the penalty was upheld, emphasizing factual considerations and compliance with tax laws in penalty determinations. The High Court found no substantial question of law warranting referral, affirming the Tribunal's decision. Case-Laws Income Tax Mon, 25 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38565