https://www.taxtmi.com/caselaws?id=24538 The High Court held that a question of law arose from the Tribunal's order for reference under section 256(2) of the Income-tax Act, 1961. The Tribunal had treated sums received from directors and shareholders as not constituting deposits within section 40A(8) and, on that basis, had declined disallowance of interest. On those facts, the Court found the matter fit for reference and directed the Tribunal to state the case and refer the question of law for opinion. en-us Thu, 22 Sep 1988 00:00:00 +0530 Wed, 20 Jan 2010 17:36:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24538 The High Court held that a question of law arose from the Tribunal's order for reference under section 256(2) of the Income-tax Act, 1961. The Tribunal had treated sums received from directors and shareholders as not constituting deposits within section 40A(8) and, on that basis, had declined disallowance of interest. On those facts, the Court found the matter fit for reference and directed the Tribunal to state the case and refer the question of law for opinion. Case-Laws Income Tax Thu, 22 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24538