1988 (7) TMI 44 - HC - Income Tax

Summary

The High Court of Madhya Pradesh dismissed an application under section 256(2) of the Income-tax Act 1961. The case involved a dispute over the treatment of a sum of Rs. 40,000 as income from undisclosed sources. The Appellate Assistant Commissioner ruled in favor of the assessee, and the Tribunal upheld this decision. The Revenue's application for reference was rejected as the Tribunal found that the conditions for the relevant circular were met. The court held that no question of law arose from the Tribunal's order and dismissed the application.