2001 (8) TMI 75 - HC - Income Tax

Summary

The High Court of Madras delivered a judgment on a case involving the Income-tax Act, 1961. The court addressed questions regarding the assessee's business connections with Nittetsu Mining Consultants Co. Ltd. of Japan and the validity of assessment proceedings. The court found that the assessee was liable to be treated as an agent under section 163 of the Act and that assessment proceedings could be validly started even after deducting income tax at source. The dispute related to the assessment years 1975-76, 1976-77, and 1977-78. The court disposed of the references accordingly.