1987 (9) TMI 7 - HC - Income Tax

Summary

The High Court of Delhi dismissed three applications under section 256(2) of the Income-tax Act, 1961. The applications questioned the genuineness of a firm and its income assessment in relation to a company. The Court upheld the Tribunal's findings that the firm was genuine, based on factual evidence including services rendered and independent partners. The Court refused to interfere with the Tribunal's decision and dismissed the applications without costs.