1988 (10) TMI 9 - HC - Income Tax

Summary

The High Court of Jammu and Kashmir allowed the petition, quashed the penalty order imposed on the petitioner firm, and directed reconsideration of the application by the Commissioner of Income-tax. The decision was based on a previous case where it was held that the Commissioner failed to exercise jurisdiction and the order was non-speaking. The parties were left to bear their own costs. (Case citation: 1988 (10) TMI 9 - JAMMU AND KASHMIR High Court, Judge: M. A. SHAH)