1925 (9) TMI 3 - HC - Income Tax

Summary

The assessee provided an income statement of &8377;420 but failed to produce supporting accounts when asked. The officer estimated a higher income, leading to a fine of &8377;250 under Section 28. The appeal was dismissed as the assessee fell under Section 23(3) and not Section 23(4). The petition was dismissed with costs of &8377;150.