1982 (5) TMI 37 - HC - Income Tax

Summary

The High Court of Punjab and Haryana dismissed the petition under the Income Tax Act, 1961, filed by the Commissioner of Income-tax, Patiala-II, seeking a direction for the Income-tax Appellate Tribunal to refer a question of law. The case involved a dispute over the set-off of unabsorbed loss from a firm, M/s. Hargolal and Sons, by an HUF assessee. The Tribunal upheld the decision allowing the set-off claim, stating that the assessee was entitled to the relief under section 72(1) of the IT Act. The court ruled in favor of the respondent-assessee, stating that no question of law arose in the case.