1995 (8) TMI 47 - HC - Income Tax

Summary

The High Court of Allahabad heard a case regarding the admission of a reference application under section 256(2) of the Income-tax Act, 1961. The court directed the Income-tax Appellate Tribunal to refer a question of law regarding the genuineness of a trust created as a colorable device to avoid tax, in light of the decision in McDowell and Co. Ltd. v. CTO [1985] 154 ITR 148.