High Court Directs Tribunal to Review Income-tax Act Deductions for 1976-77 Assessment

The High Court directed the Tribunal to refer questions of law regarding deductions under the Income-tax Act for the assessment year 1976-77, including the admissibility of deductions, advancing of funds in the lending business, perverseness of the Tribunal's order, and allowance of interest claims.

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The High Court of Delhi directed the Tribunal to refer questions of law regarding deductions under the Income-tax Act for the assessment year 1976-77. The questions include the admissibility of deductions, advancing of funds in the lending business, the perverseness of the Tribunal's order, and the allowance of interest claims.

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