1982 (4) TMI 50 - HC - Income Tax

Summary

The High Court of Calcutta considered a case involving a penalty under section 28(1)(c) of the Indian Income Tax Act, 1922. The Tribunal concluded that there was no concealment of income or deliberate furnishing of inaccurate particulars, overturning the penalty imposed by the Income Tax Officer. The Court upheld the Tribunal's decision, ruling in favor of the assessee.