1997 (1) TMI 26 - HC - Income Tax

Summary

The High Court of Allahabad rejected an application under section 256(2) of the Income-tax Act, 1961. The case involved a dispute over the deduction of Rs. 72.05 lakhs for the unexpired period of an annual maintenance contract. The Tribunal found that the assessee had not changed its accounting system and was entitled to the deduction. The High Court held that no question of law arose for reference and rejected the application.