1999 (8) TMI 23 - HC - Income Tax

Summary

The High Court of Madras dismissed the tax case petition as the proceedings initiated by the Assessing Officer were found to be illegal due to lack of satisfaction by the Deputy Commissioner as required by section 16(1B)(b) of the Gift-tax Act. The Tribunal's decision was upheld based on statutory provisions and facts on record. (Case citation: 1999 (8) TMI 23 - MADRAS High Court)