2001 (3) TMI 68 - HC - Income Tax

Extract:
.......l misdirects itself in law in basing its conclusions on some evidence ignoring other essential matters on record, a question of law arises (see CIT v. Radha Kishan Nandlal 1975 99 ITR 143 (SC)). The answer to the question, therefore, is in the negative, in favour of the Revenue and against the assessee. The reference application stands disposed of.