1986 (10) TMI 18

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....ACTG. C. J.-This is an application under section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "). The material facts giving rise to this application briefly are as follows: For the assessment year 1971-72, the applicant had filed a return disclosing its income at Rs. 53,414. While framing the assessment, the Income-tax Officer rejected the claim of the applicant for ....

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.... application deserves to be allowed. The question as to whether the failure on the part of an assessee to substantiate the claim for deductions would, on the facts and in the circumstances of a case, amount to concealment of the particulars of its income as contemplated by the provisions of section 27](1)(c) of the Act, arises in this case. Therefore, in our opinion, the following question of law ....