https://www.taxtmi.com/caselaws?id=20056 The High Court directed the Tribunal to refer the question of the credibility of credits amounting to Rs. 1,71,500 advanced by five creditors for the purchase of trawlers under section 256(2) of the Income-tax Act. One petition was allowed, resulting in the Tribunal being directed to refer the question, while the other petition was dismissed. Consequently, the High Court declined to answer the question in Income-tax Reference No. 42 of 1988 based on the decision in the allowed petition. en-us Mon, 07 Feb 1994 00:00:00 +0530 Wed, 11 Nov 2009 13:53:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20056 The High Court directed the Tribunal to refer the question of the credibility of credits amounting to Rs. 1,71,500 advanced by five creditors for the purchase of trawlers under section 256(2) of the Income-tax Act. One petition was allowed, resulting in the Tribunal being directed to refer the question, while the other petition was dismissed. Consequently, the High Court declined to answer the question in Income-tax Reference No. 42 of 1988 based on the decision in the allowed petition. Case-Laws Income Tax Mon, 07 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20056