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of <h1>High Court of Bombay rules in favor of assessee in tax assessment case for 1970-71</h1> <h3>Commissioner Of Income-Tax Versus Smt. Sati K. Sippy And Others</h3> Commissioner Of Income-Tax Versus Smt. Sati K. Sippy And Others - [1992] 195 ITR 276, 104 CTR 319, 59 TAXMANN 551 The High Court of Bombay addressed two questions of law in a Departmental reference related to the assessee's assessment for the year 1970-71. The first question was about the cancellation of the assessment order by the Appellate Assistant Commissioner, which was upheld by the Tribunal. The Court found no issue with this decision and ruled in favor of the assessee. The second question, regarding the addition of Rs. 3,00,000 under section 52 of the Income-tax Act, was answered in the affirmative and in favor of the assessee based on a Supreme Court decision. No costs were awarded.
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