2001 (8) TMI 14 - SC - Income Tax

Revenue moved the high Court under section 256(2) of the Income tax Act, 1961, seeking a reference of eleven questions. The High Court disposed of the application by a lengthy judgment that concluded by saying that no question of law was found - held that Tribunal shall refer questions to HC for consideration - HC shall consider whether the Tribunal was right in the order that it passed, having regard to the evidence on record.

Summary

The Supreme Court allowed the Revenue's appeal regarding questions on section 132(4) of the Income Tax Act. The High Court's judgment was set aside, and questions 3 and 4 were to be referred to the High Court for consideration. No costs were awarded.