1994 (10) TMI 56 - HC - Income Tax

Summary

The High Court of Kerala upheld the Tribunal's decision to reduce the daily income estimate of an assessee to Rs. 1,500, rejecting the Revenue's appeal. The Tribunal provided adequate reasons for its decision based on factual evidence, concluding that the assessee's income should be reasonably limited. The Court found no merit in the Revenue's contentions and dismissed the petition. (Case citation: 1994 (10) TMI 56 - Kerala High Court)