Commissioner Of Income-Tax vs Sri Ramdas Motor Transport Ltd.

The Supreme Court held that the High Court improperly interpreted Section 132(4) of the Income Tax Act without calling for a reference, necessitating the setting aside of its judgment. The Court emphasized that the High Court must consider the questions regarding the scope of Section 132(4) and its Explanation, particularly whether the Explanation is retrospective. The appeal by the Revenue was allowed, and the Tribunal was directed to refer the questions to the High Court for consideration under Section 256(2).