1999 (3) TMI 31 - HC - Income Tax

Summary

The High Court of Kerala directed the Income-tax Appellate Tribunal to refer questions of law regarding revaluation of stock-in-trade and cessation of business to the court. The case involved conversion of a proprietary business into a partnership, leading to disputes over taxation issues. The court found that the questions raised by the assessee were valid and ordered the Tribunal to refer them for the court's opinion.