https://www.taxtmi.com/caselaws?id=22118 The High Court considered a case where loans were questioned as undisclosed income. Despite various appeals, the Tribunal held the credits as income from undisclosed sources. The assessee sought rectification under section 254, arguing for taxation in a joint venture's hands. The Tribunal directed the Income-tax Officer to examine this claim. The Court emphasized the legal complexities and directed the Tribunal to refer a question of law. The judgment focused on interpreting section 254, the Tribunal's jurisdiction, and the assessment of loans as undisclosed income, ultimately underscoring the need for a detailed legal examination and clarification. en-us Wed, 25 Jul 1990 00:00:00 +0530 Mon, 07 Dec 2009 11:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22118 The High Court considered a case where loans were questioned as undisclosed income. Despite various appeals, the Tribunal held the credits as income from undisclosed sources. The assessee sought rectification under section 254, arguing for taxation in a joint venture's hands. The Tribunal directed the Income-tax Officer to examine this claim. The Court emphasized the legal complexities and directed the Tribunal to refer a question of law. The judgment focused on interpreting section 254, the Tribunal's jurisdiction, and the assessment of loans as undisclosed income, ultimately underscoring the need for a detailed legal examination and clarification. Case-Laws Income Tax Wed, 25 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22118