1985 (7) TMI 40 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the Income-tax Officer's decision to reopen the assessment for the years 1966-67 to 1968-69. The court ruled that the assessee was not entitled to exemption under section 23(3)(a) of the Income-tax Act, 1961. The Tribunal's decisions were affirmed, and the questions of law were answered against the assessee.