1996 (1) TMI 34 - HC - Income Tax

Summary

The High Court of Rajasthan dismissed the application under section 256(2) of the Income-tax Act, 1961, as no referable question of law arose in the matter. The Tribunal upheld the cancellation of a penalty as no tax was payable on the returned income of the assessee. The case was found to be covered by a previous court decision.