2000 (8) TMI 1116 - HC - Income Tax

Summary

The Gujarat High Court admitted the appeal and rejected the application for seeking reference on questions 2 to 7 as they were deemed factual. However, question 1 regarding unexplained credit against share capital of Rs. 73,54,000 was remanded to the Assessing Officer for reassessment along with the assessment case of Shri Umedsingh Champavat. The appeal partly succeeded on this limited extent.