High Court dismisses IT Act application on tax exemption status for 'local authority' under section 256(2)

The High Court of Andhra Pradesh dismissed an application under section 256(2) of the IT Act, 1961, regarding the tax exemption status of an assessee considered a 'local authority'. The Court upheld the Tribunal's decision, stating no question of law arose for referral.

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The High Court of Andhra Pradesh dismissed an application under section 256(2) of the IT Act, 1961, regarding the tax exemption status of an assessee considered a 'local authority'. The Court held that based on a previous judgment, the Tribunal was correct in its decision, and no question of law arose for referral. (Case Citation: 1996 (7) TMI 28 - Andhra Pradesh High Court)

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