High Court directs Tribunal to seek court opinion on taxability question of refund under Income-tax Act

The High Court directed the Tribunal to refer the taxability question of a refund to the court for its opinion under section 41(1) of the Income-tax Act, 1961 for the assessment year 1978-79.

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The High Court of Punjab and Haryana directed the Tribunal to refer the question of law regarding the taxability of a refund to the court for its opinion. The question pertained to whether the refund amount was taxable in the hands of the assessee for the assessment year 1978-79 under section 41(1) of the Income-tax Act, 1961.

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