1994 (8) TMI 26 - HC - Income Tax

Summary

The High Court of Allahabad dismissed the application under section 256(2) of the Income-tax Act, 1961. The Income-tax Appellate Tribunal was correct in denying deduction under section 80C as the money seized was not actually invested in National Savings Certificates. The Tribunal's decision was upheld as no question of law arose.