1981 (4) TMI 90 - HC - Income Tax

Summary

The High Court of Orissa dismissed an application under s. 256(2) of the I.T. Act of 1961, regarding the deletion of a penalty levied under section 271(1)(a) of the Income-tax Act. The Tribunal found a reasonable cause for the delay in submitting the return due to absence of particulars of the assessee's share income from two firms. The court concluded that no question of law arose, and the application was dismissed.