2001 (7) TMI 2 - SCH - Income Tax

Appeals arise on references to the HC of Kerala of questions of law u/s 256(1) -The HC has come to the conclusion that it is not necessary for it to answer the questions but that the matter requires fresh consideration at the hands of the Tribunal in view of what is stated principally in paragraph seven of its judgment - Approach of the HC is not correct and that the HC ought to have answered the questions that were referred to it having regard to the facts found by the Tribunal

Summary

The Supreme Court condoned the delay in filing the respondent's appearance, granted leave, and allowed the appeals. The High Court's decision was set aside, and the references were restored to be heard and disposed of afresh. No order was given regarding costs.