https://www.taxtmi.com/caselaws?id=27487 The Commissioner of Income-tax sought a direction under s. 256(2) of the Income Tax Act, 1961 for the Income-tax Appellate Tribunal to refer questions of law to the High Court regarding discrepancies in income assessment for an assessee involved in purchasing sugar. Despite penalty proceedings, the Tribunal found the assessee had rebutted the presumption under section 271(1)(c) of the Act with evidence. The Appellate Tribunal and High Court both upheld the decision not to refer questions of law, emphasizing the factual nature of the issues and affirming the Tribunal's findings, resulting in the dismissal of the application and no penalty imposition. en-us Tue, 07 Feb 1984 00:00:00 +0530 Sat, 13 Feb 2010 11:29:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27487 The Commissioner of Income-tax sought a direction under s. 256(2) of the Income Tax Act, 1961 for the Income-tax Appellate Tribunal to refer questions of law to the High Court regarding discrepancies in income assessment for an assessee involved in purchasing sugar. Despite penalty proceedings, the Tribunal found the assessee had rebutted the presumption under section 271(1)(c) of the Act with evidence. The Appellate Tribunal and High Court both upheld the decision not to refer questions of law, emphasizing the factual nature of the issues and affirming the Tribunal's findings, resulting in the dismissal of the application and no penalty imposition. Case-Laws Income Tax Tue, 07 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27487