1987 (2) TMI 30 - ANDHRA PRADESH HIGH COURT - Income Tax

Extract:
.......i.e., the Inspecting Assistant Commissioner. Thus considered, we agree with the conclusions reached by the Appellate Tribunal, though for different reasons, that the assessee has concealed income of Rs. 1,23,000 and the imposition of penalty is legal. The reference is accordingly answered in favour of the Revenue and against the assessee. No costs.