2000 (9) TMI 2 - SC - Income Tax

Whether, on the facts and circumstances of the case, the Income-tax Appellate Tribunal is right in law in quashing the assessment proceedings for the assessment year 1985-86 reopened under section 147(a) of the Income-tax Act, 1961 - Clearly, a question of law arises and the Tribunal is directed to refer to the High Court that question for its consideration, after drawing up a statement of case - civil appeal is allowed accordingly.

Summary

The Supreme Court directed the Tribunal to refer a legal question to the High Court regarding the quashing of assessment proceedings for the assessment year 1985-86 reopened under section 147(a) of the Income-tax Act, 1961. The High Court's decision was found to be in error, and the civil appeal was allowed.