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The High Court of Gauhati rejected five applications filed by the Revenue under section 256(2) of the Income-tax Act, 1961. The applications sought a direction to call for a statement of facts from the Tribunal regarding the treatment of capital subsidy receipt in determining deductible depreciation allowance. The court found the issues were already settled by a previous decision and declined to make a reference, as it would be a futile exercise. The court held that no case for reference under section 256(2) was made out and rejected all five petitions.
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