https://www.taxtmi.com/caselaws?id=10125 The High Court upheld the Tribunal's decision to reject the Revenue's application for reference under section 256(1) of the Income-tax Act, 1961. The Court found that as the explanation provided by the assessee had been accepted by the authorities and no substantial question of law arose, there was no basis for a reference. The Court dismissed the Revenue's application, emphasizing the absence of any legal issue requiring a reference in the case. en-us Thu, 06 May 2004 00:00:00 +0530 Tue, 07 Jul 2009 19:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10125 The High Court upheld the Tribunal's decision to reject the Revenue's application for reference under section 256(1) of the Income-tax Act, 1961. The Court found that as the explanation provided by the assessee had been accepted by the authorities and no substantial question of law arose, there was no basis for a reference. The Court dismissed the Revenue's application, emphasizing the absence of any legal issue requiring a reference in the case. Case-Laws Income Tax Thu, 06 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10125