2002 (7) TMI 803 - HC - Income Tax

Summary

The High Court of Madhya Pradesh declined to answer a reference made under section 256(1) of the IT Act due to the small amount involved, which was Rs. 8,400 for four assessment years. The Revenue was advised against seeking reference for amounts less than Rs. 50,000, now raised to Rs. 1,00,000. The Court disposed of the reference without any costs.