https://www.taxtmi.com/caselaws?id=15263 The High Court of Kerala upheld the decisions of the lower authorities, dismissing the original petitions challenging the refusal to refer questions under section 256(1) of the Income-tax Act, 1961. The court affirmed the validity of the method of interest computation for gold loans, emphasizing that the assessee's approach, based on mutual agreement with lenders, did not aim to reduce commercial profits. The court found no legal question to address and upheld the Tribunal's decision in favor of the assessee. en-us Mon, 04 Oct 1999 00:00:00 +0530 Tue, 04 Aug 2009 13:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15263 The High Court of Kerala upheld the decisions of the lower authorities, dismissing the original petitions challenging the refusal to refer questions under section 256(1) of the Income-tax Act, 1961. The court affirmed the validity of the method of interest computation for gold loans, emphasizing that the assessee's approach, based on mutual agreement with lenders, did not aim to reduce commercial profits. The court found no legal question to address and upheld the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Mon, 04 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15263