1983 (7) TMI 27 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the penalty imposed on the assessee for concealing income from contract receipts in their original tax returns filed before April 1, 1976. The court ruled that the concealment took place when the original returns were filed, affirming the Tribunal's decision. The court's answers to the questions referred were in favor of the tax authorities.