2000 (2) TMI 22 - HC - Income Tax

Summary

The High Court of Rajasthan allowed the application under section 256(2) of the Income-tax Act, 1961, directing the Tribunal to refer a question regarding depreciation on vehicles not registered in the name of the assessee-firm. The Tribunal was found to be in error for rejecting the application under section 256(1) and was instructed to refer the question for interpretation of section 32 of the Act.