https://www.taxtmi.com/caselaws?id=22638 The High Court directed the Tribunal to re-evaluate the case involving a sum of Rs. 3,95,229, emphasizing the legal distinctions between earnest money and advance payments and the true nature of the agreements. The Tribunal's previous conclusion was considered oversimplified and not in accordance with the law. The High Court declined to answer the questions referred by the Income-tax Appellate Tribunal and instructed a fresh assessment considering these legal nuances. en-us Thu, 22 Nov 1990 00:00:00 +0530 Fri, 11 Dec 2009 16:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22638 The High Court directed the Tribunal to re-evaluate the case involving a sum of Rs. 3,95,229, emphasizing the legal distinctions between earnest money and advance payments and the true nature of the agreements. The Tribunal's previous conclusion was considered oversimplified and not in accordance with the law. The High Court declined to answer the questions referred by the Income-tax Appellate Tribunal and instructed a fresh assessment considering these legal nuances. Case-Laws Income Tax Thu, 22 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22638