1992 (3) TMI 18 - HC - Income Tax

Summary

The High Court of Rajasthan directed the Income-tax Appellate Tribunal to refer a question of law regarding the allowance of investment deduction for the assessment year 1978-79. The Tribunal had allowed the deduction subject to the outcome of a pending reference for the assessment year 1977-78. The court found that a question of law did arise under section 32A of the Income-tax Act, 1961, and ordered the Tribunal to refer the question within four months.