1987 (11) TMI 30 - HC - Income Tax

Summary

The High Court of Allahabad rejected an application under section 256(2) of the Income-tax Act, 1961, by an assessee dealing in bullion, silver, and silver ornaments. The court held that no question of law arose from the Tribunal's order regarding the value of unrecorded parcels and unexplained cash credits in the assessee's books. The court declined to direct the Tribunal to draw up a statement of case on any of the proposed questions. The application was rejected with no order as to costs.