1975 (7) TMI 45 - HC - Income Tax

Summary

The High Court of Orissa rejected the revenue's application under section 256(2) of the Income-tax Act, 1961, to direct the Income-tax Appellate Tribunal to state a case regarding the justification of allowing registration to a firm. The rejection was based on the Tribunal's conclusion that the firm was genuine and entitled to registration, as it had taken an overall view of the situation, including a modification in the transfer of assets from a proprietary concern to a partnership business. The court found no question of law to be adjudicated and rejected the applications with no order as to costs.