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of <h1>High Court dismisses application under Income Tax Act section 66(2), upholding Income Tax Officer's discretion.</h1> <h3>Mercantile Express Co. (Private) Ltd. Versus Commissioner of Income Tax, Calcutta and Ors.</h3> The High Court of Calcutta dismissed an application under section 66(2) of the Income Tax Act, stating that the questions raised were factual and not ... - The High Court of Calcutta dismissed an application under section 66(2) of the Income Tax Act, stating that the questions raised were factual and not legal. The court emphasized that the opinion of the Income Tax Officer is now the primary deciding factor regarding the reasonableness of allowances, following an amendment to the Income Tax Act. The court found no evidence of capricious or unjudicial behavior by the Income Tax Officer and dismissed the application.
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