https://www.taxtmi.com/caselaws?id=17714 The High Court upheld the Tribunal's decision, ruling against the Revenue on the assumption of jurisdiction under section 263 and declining to answer the question regarding the disallowance under section 37. The judgment emphasized the need for statutory satisfaction to invoke section 263 and deferred consideration of multiple business activities under section 37 to a more appropriate case. The Court directed the Income-tax Appellate Tribunal to take consequential orders based on the judgment. en-us Wed, 05 Jun 1996 00:00:00 +0530 Thu, 24 Sep 2009 13:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17714 The High Court upheld the Tribunal's decision, ruling against the Revenue on the assumption of jurisdiction under section 263 and declining to answer the question regarding the disallowance under section 37. The judgment emphasized the need for statutory satisfaction to invoke section 263 and deferred consideration of multiple business activities under section 37 to a more appropriate case. The Court directed the Income-tax Appellate Tribunal to take consequential orders based on the judgment. Case-Laws Income Tax Wed, 05 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17714