1993 (11) TMI 42 - HC - Income Tax

Summary

The High Court of Allahabad rejected an application under section 256(2) of the Income-tax Act, 1961 for the assessment year 1982-83. The court found that there was no question of law arising from the order of the Income-tax Appellate Tribunal regarding the imposition of a penalty under section 271(1)(c) on the ground of omitting property income from the return. The Tribunal accepted the assessee's explanation for the omission, leading to the rejection of the application. The respondent-assessee was awarded costs of Rs. 150.