1992 (8) TMI 244 - SC - Income Tax

Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that notice served on April 10, 1962, under section 34 of the Indian Income-tax Act, 1922, after the coming into force of the Income-tax Act, 1961, and the proceedings commenced in pursuance of the said notices and the orders passed therein were invalid and bad in law

Summary

The Supreme Court allowed the appeals against the order rejecting applications under section 256(2) of the Income-tax Act, 1961. The Court held that the question of law was not concluded by a previous decision and directed the Tribunal to refer the question for decision. The impugned orders were set aside, and no costs were awarded.