1995 (2) TMI 11 - HC - Income Tax

Summary

The High Court of Madras dismissed a tax case petition where the Department sought a question of law to be referred to the Tribunal regarding the extension of time for filing income tax returns and carry forward of losses for the assessment year 1986-87. The Tribunal deemed the delay in filing the return to have been condoned based on the facts available, following a decision of the Bombay High Court. The High Court held that no question of law arose as suggested by the Revenue, and therefore dismissed the tax case petition. (Case citation: 1995 (2) TMI 11 - MADRAS High Court)