1997 (7) TMI 89 - HC - Income Tax

Summary

The High Court of Madhya Pradesh allowed the application for a statement of case regarding the Income-tax Appellate Tribunal's decision on whether the confiscated gold amounting to Rs. 4,63,280 can be considered a loss for set off, despite the gold being seized in relation to smuggling activities. The court directed the Tribunal to send a statement of case on this matter for further consideration.