High Court directs Tribunal to refer questions on transaction genuineness & limitation period under Income-tax Act

The High Court directed the Tribunal to refer questions of law regarding the genuineness of a transaction and the period of limitation for holding the assessee as an agent in a case under section 256(2) of the Income-tax Act, 1961.

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The petitioner filed a petition under section 256(2) of the Income-tax Act, 1961, against the Tribunal's order dated May 30, 1983. The High Court directed the Tribunal to refer questions of law regarding the genuineness of a transaction and the period of limitation for holding the assessee as an agent.

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