https://www.taxtmi.com/caselaws?id=25203 A reference will not be called on an exemption claim where the assessed loss for the relevant year exceeds the disallowance and no tax liability arises, because the issue does not affect the tax consequence for that year. The High Court applied the principle that it does not entertain academic questions for reference, and the exemption controversy was treated as not surviving for adjudication. The reference application was therefore rejected as purely academic. en-us Tue, 13 Oct 1987 00:00:00 +0530 Wed, 27 Jan 2010 11:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25203 A reference will not be called on an exemption claim where the assessed loss for the relevant year exceeds the disallowance and no tax liability arises, because the issue does not affect the tax consequence for that year. The High Court applied the principle that it does not entertain academic questions for reference, and the exemption controversy was treated as not surviving for adjudication. The reference application was therefore rejected as purely academic. Case-Laws Income Tax Tue, 13 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25203