1995 (8) TMI 48 - HC - Income Tax

Summary

The High Court of Allahabad rejected an application under section 256(2) of the Income-tax Act, 1961 as no question of law arose from the Tribunal's order. The assessee's claim regarding false chungi receipts was not substantiated, leading to unexplained purchases and additions to the total amount. The Court concluded that the reference could be decided based on the available record materials. The application was rejected.