2006 (9) TMI 157 - PUNJAB AND HARYANA HIGH COURT - Income Tax

Extract:
.......lakh was to be received for the sale of permit. If that is so, there was no error in the view taken by the Assessing Officer and no case was made out for invoking jurisdiction under section 263 of the Act. In view of the above, the question referred is answered against the Revenue and in favour of the assessee. Reference is disposed of accordingly.