2001 (1) TMI 3 - SCH - Income Tax

Whether, by passing book entries showing sale of Malba to M, the ownership of the godowns could in law be claimed to have been transferred to her - Tribunal is directed to refer the question to the High Court for consideration, after drawing up a statement of case.

Summary

The Supreme Court condoned delay, granted leave, and set aside the order of the High Court. The Tribunal was directed to refer a specific question to the High Court for consideration. The appeal was allowed with no order as to costs.