Court orders Appellate Tribunal to review income tax treatment

The High Court of Allahabad directed the Income-tax Appellate Tribunal to draw up a statement of the case for further consideration regarding the treatment of certain sums received by the assessee as income subject to tax, in response to an application under section 256(2) of the Income-tax Act, 1961 filed by the Commissioner of Income-tax.

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The High Court of Allahabad heard an application under section 256(2) of the Income-tax Act, 1961, filed by the Commissioner of Income-tax. The court identified two questions of law related to the treatment of certain sums received by the assessee as income subject to tax. The court directed the Income-tax Appellate Tribunal to draw up a statement of the case for further consideration.

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