1979 (7) TMI 42 - HC - Income Tax

Assessment Proceedings Failure To Disclose Fully And Truly Reassessment Proceedings Tax Liability

Summary

The High Court of Punjab and Haryana addressed a penalty issue under section 273(b) of the Income-tax Act, 1961. The case involved disputed income estimates and the imposition of a penalty on the assessee. The Tribunal's decision to delete the penalty was deemed incorrect, and the case was remanded for a fresh hearing in accordance with the law.