https://www.taxtmi.com/caselaws?id=12065 The High Court of Rajasthan rejected the reference application under section 256(2) of the Income-tax Act, affirming the lower authorities' findings that transactions between the assessee and sister concerns were sham and aimed at concealing income. The court concluded that no question of law arose, supporting the addition of concealed income to the assessee's total. The judgment highlighted the lack of genuine transactions, dismissing the assessee's claims of legitimate dealings and profit diversion. en-us Thu, 14 Nov 2002 00:00:00 +0530 Tue, 16 Feb 2010 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12065 The High Court of Rajasthan rejected the reference application under section 256(2) of the Income-tax Act, affirming the lower authorities' findings that transactions between the assessee and sister concerns were sham and aimed at concealing income. The court concluded that no question of law arose, supporting the addition of concealed income to the assessee's total. The judgment highlighted the lack of genuine transactions, dismissing the assessee's claims of legitimate dealings and profit diversion. Case-Laws Income Tax Thu, 14 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12065