2000 (11) TMI 73 - HC - Income Tax

Summary

The High Court of Madras criticized the Revenue for seeking a reference in a case where there was no doubt. The court ruled in favor of the assessee, a public sector bank, stating that the income offered for tax purposes was correct. The Tribunal also found no reason to assume underassessment. The Revenue was directed to pay Rs. 3,000 as costs to the assessee.