1972 (10) TMI 36 - HC - Income Tax

Summary

The High Court of Allahabad ruled in favor of the assessee in a tax penalty case. The Income-tax Appellate Tribunal canceled the penalty order imposed under section 271(1)(c) as it was not considered to be due to fraud or neglect by the assessee. The court found the Tribunal's decision to be based on relevant considerations and upheld it. The question was answered in the affirmative in favor of the assessee, who was awarded costs of Rs. 200.