1979 (8) TMI 43 - HC - Income Tax

Application For Extension, Failure To File Return, Question Of Fact, Reasonable Cause, Wealth Tax Penalty

Summary

The High Court of Allahabad ruled in favor of the assessee in an appeal under the Super Profits Tax Act, 1963 for the assessment year 1963-64. The Tribunal's decision to delete the addition of Rs. 2,56,046 for guarantee commission and commission paid on sugar sales was upheld. The questions referred by the Tribunal were answered in favor of the assessee. The assessee was awarded costs of Rs. 200 and counsel fee of Rs. 200.