1989 (9) TMI 82 - HC - Income Tax

Summary

The High Court of Madhya Pradesh allowed the application under section 256(2) of the Income-tax Act, 1961. The court directed the Tribunal to refer the question of law regarding the deduction of Rs. 45,370 claimed as bad debt by the assessee for assessment year 1977-78. The Tribunal's decision to allow the deduction was challenged by the Revenue, leading to this application.