1991 (3) TMI 131 - HC - Wealth-tax

Summary

The High Court of Madhya Pradesh ruled that no penalty could be imposed on an assessee for filing an incorrect wealth-tax return due to a bona fide mistake by the counsel. The Tribunal's decision to cancel the penalty was upheld as the issue was deemed a question of fact, not law. The application for referral to the court was dismissed, and no costs were awarded.