1998 (1) TMI 62 - HC - Income Tax

Summary

The High Court of Kerala allowed the Revenue's application under section 256(2) of the Income-tax Act, 1961, directing the Appellate Tribunal to refer the question of whether there was sufficient cause for not finalizing the accounts of the firms, leading to a delay in filing the return, before canceling the penalty imposed under section 271(1)(a) of the Act for the assessment year 1983-84.