1978 (1) TMI 99 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Jabalpur disposed of two appeals by the Department for asst. yrs. 1970-71 and 1971-72. The Tribunal upheld the decision of the AAC that there was no fraud or neglect by the assessee, thus no penalty was imposed under s. 271(1)(c) of the IT Act. The burden of proof was on the assessee, but it was discharged by showing no fraud or neglect. The appeal was dismissed, upholding the AAC's orders. (Case: 1978 (1) TMI 99 - ITAT JABALPUR)