1986 (1) TMI 67 - HC - Income Tax

Summary

The High Court of Madhya Pradesh dismissed an application under section 256(2) of the Income-tax Act, 1961, for a direction to refer certain questions of law arising from the imposition of penalty under section 271(1)(c) for the assessment year 1969-70. The penalty was upheld as the assessee failed to show cause, and no question of law was found to arise from the Tribunal's order. The application was dismissed with no costs.