https://www.taxtmi.com/caselaws?id=21825 The Tribunal treated the relevant findings as factual: no part of the undertaking's profits had been transferred to the transferee company for the period concerned, the profits for the assessment years were assessed in the assessee's hands, and tax liability remained with the assessee. On that basis, the deduction claim was held to be properly allowed and the Income-tax Officer was found to have committed no error. As no misreading or misconstruction of the documents was shown, no question of law arose from the proposed reference under Section 263 and the refusal to direct a reference was justified. en-us Tue, 25 Feb 1992 00:00:00 +0530 Tue, 01 Dec 2009 17:54:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21825 The Tribunal treated the relevant findings as factual: no part of the undertaking's profits had been transferred to the transferee company for the period concerned, the profits for the assessment years were assessed in the assessee's hands, and tax liability remained with the assessee. On that basis, the deduction claim was held to be properly allowed and the Income-tax Officer was found to have committed no error. As no misreading or misconstruction of the documents was shown, no question of law arose from the proposed reference under Section 263 and the refusal to direct a reference was justified. Case-Laws Income Tax Tue, 25 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21825