1989 (9) TMI 74 - HC - Income Tax

Summary

The High Court of Madhya Pradesh allowed the application under section 256(2) of the Income-tax Act, 1961. The case involved the deduction claim of a sum of Rs. 2,03,722 for holiday wages and leave with wages by an assessee in the business of bidis. The Tribunal held that the liability was ascertained and deductible for income tax computation. The Revenue's application for reference was rejected initially but later allowed by the High Court for consideration of the question of law.