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of <h1>Gujarat HC Admits Appeal, Rejects Reference Application on Factual Questions. Remands Unexplained Credit Issue</h1> The Gujarat HC admitted the appeal, rejecting a reference application on factual questions 2-7. Question 1 on unexplained credit of Rs. 73,54,000 against ... - The Gujarat High Court admitted the appeal and rejected the application for seeking reference on questions 2 to 7 as they were deemed factual. However, question 1 regarding unexplained credit against share capital of Rs. 73,54,000 was remanded to the Assessing Officer for reassessment along with the assessment case of Shri Umedsingh Champavat. The appeal partly succeeded on this limited extent.
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