1981 (2) TMI 9 - HC - Income Tax

Summary

The High Court of Madhya Pradesh delivered a judgment in response to an application under section 256(2) of the Income Tax Act, 1961. The court framed a question regarding the evidence before the Appellate Tribunal on the value of goods covered by a bank loan, reducing unexplained investment to 30% of the stocks' value. The court directed the Tribunal to state the case for answer.