1988 (10) TMI 4 - HC - Income Tax

Summary

The High Court of Bombay discharged the rule in a case involving the rejection of an application under section 256(1) of the Income-tax Act by the Income-tax Appellate Tribunal. The Tribunal's decision lacked reasoning for rejection, referencing only an earlier order without providing details. The Court criticized this practice and emphasized the need for clear reasoning in such decisions. The Court discharged the rule but directed the parties to bear their own costs. (Case citation: 1988 (10) TMI 4 - BOMBAY High Court)