1981 (10) TMI 3 - HC - Income Tax

Summary

The High Court of Madhya Pradesh held that the penalty order was passed within the prescribed period of limitation under section 275 of the Income-tax Act, 1961. The Court also ruled that the assessee was provided with a reasonable opportunity to be heard against the proposed penalty. The Tribunal's decisions on both issues were upheld, and the assessee was ordered to pay the costs of the reference to the Department.