1992 (7) TMI 9 - HC - Income Tax

Summary

The High Court of Orissa heard a case involving a dispute over the method of accounting used by an assessee-corporation for certain loans. The court directed the Tribunal to refer specific questions regarding the change in the method of accounting. The court ruled in favor of the assessee on the first question but declined to answer the second question as the Tribunal had not provided a definite finding. The reference was disposed of with no costs.