1990 (8) TMI 69 - HC - Income Tax

Summary

The High Court of Bombay addressed five questions referred by the Tribunal regarding surtax assessment for the assessment years 1970-71, 1971-72, and 1972-73. The first two questions were answered in favor of the Revenue, the third question in favor of the assessee, and the fourth and fifth questions were also decided in favor of the assessee. The Court referred to previous judgments to support its decisions. No costs were awarded.