1990 (8) TMI 112 - HC - Income Tax

Summary

The High Court of Allahabad dismissed an application under section 256(2) of the Income-tax Act regarding the genuineness of a party named Kashmir Traders, Lucknow, from whom the assessee claimed to have purchased scrap. The Income-tax Officer deemed the party non-existing and added the amount to the assessee's income. The Tribunal upheld this decision, stating that no question of law arose for reference. The application was dismissed.