1987 (1) TMI 6 - HC - Income Tax

Summary

The High Court of Madras rejected the petition filed by the assessee under section 256(2) of the Income-tax Act, 1961, as the issues raised had already been addressed in a previous case involving the same assessee. The court held that the trust deed could not be rectified to delete objectionable objects, leading to the assessee-trust not being eligible for exemption. The petitions regarding wealth-tax and income-tax assessments were rejected for the years 1970-71 to 1979-80.