1986 (7) TMI 58 - HC - Income Tax

Summary

The High Court of Madhya Pradesh allowed the application under section 256(2) of the Income-tax Act, 1961. The case involved a firm claiming deduction for a fine imposed under the Defence of India Act. The Tribunal held the amount was deductible, leading to a question of law regarding the deduction. The Tribunal was directed to refer the question to the court for its opinion.