1994 (9) TMI 37 - HC - Income Tax

Summary

The High Court of Delhi considered a case related to the assessment year 1968-69 and the cancellation of a penalty under section 271(1)(c) of the Income-tax Act, 1961. The court referred to the principle laid down by the Supreme Court in the case of CIT v. Anwar Ali [1970] 76 ITR 696 and ruled in favor of the Revenue based on the Explanation to section 271(1) added in 1961.