1971 (9) TMI 17 - SC - Income Tax

Income From Undisclosed Sources - assessee not furnished wrong particulars deliberately - penalty cannot be levied - revenue s appeal is dismissed

Summary

The Supreme Court dismissed an appeal regarding a penalty imposed on an assessee for submitting a wrong income tax return. The High Court set aside the penalty, citing a lack of evidence showing deliberate wrongdoing by the assessee. The appeal was dismissed with no costs. (Case citation: 1971 (9) TMI 17 - Supreme Court)