High Court dismisses Dept's reference application on share income with charges, citing Tribunal's decision alignment.

The High Court dismissed the Department's application for a reference under section 256(2) of the Income-tax Act, 1961 regarding share income with overriding charges in favor of the wife and minor child. The Court held that the Tribunal's decision aligning with a prior judgment and the ongoing appeal in the Supreme Court did not necessitate a reference.

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The Department sought a reference under section 256(2) of the Income-tax Act, 1961 regarding share income subject to overriding charges in favor of wife and minor child. The High Court dismissed the application, stating that the Tribunal followed a previous judgment and the pending appeal in the Supreme Court did not warrant a reference.

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