1988 (1) TMI 35

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....d by this court on December 5, 1980, in M.C.C. No. 362 of 1976, the Income-tax Appellate Tribunal, Nagpur, has referred the following two questions to this court for its opinion : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that section 140A(3) of the Incometax Act, 1961, is violative of article 19(1)(f) of the Constitution ? ....

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.... to above, suffice it to point out that in CIT v. Vrajlal Manilal & Co. [1981] 127 ITR 512, a Division Bench of this court has held that section 140A(3) of the Act cannot be held to be confiscatory and unreasonable. This court has, in taking the aforesaid view, disagreed with the view expressed by the Madras High Court to the contrary which was relied on by the Income-tax Appellate Tribunal. The a....