1977 (10) TMI 25 - HC - Income Tax

Summary

The High Court of Allahabad dismissed the application under section 256(2) of the Income-tax Act, 1961, where the assessee sought to challenge the Tribunal's decision on various questions related to adjournment, profit determination, and evidence consideration. The Court found no merit in the application, stating that the Tribunal's discretion in refusing adjournment was justified, and the profit determination based on best judgment assessment was reasonable. The application was rejected with costs.