1990 (3) TMI 14 - HC - Income Tax

Summary

The High Court of Madras dismissed tax case petitions seeking reference on questions of law related to undisclosed income under section 68 of the Income-tax Act for assessment years 1981-82, 1982-83, and 1983-84. The Tribunal set aside the assessment orders and directed a de novo assessment by the Income-tax Officer, allowing examination of all aspects including the applicability of section 68. The Court found no prejudice to the Revenue and dismissed the petitions with no costs.