M/S. SARASWATHI OIL TRADERS vs COMMNR. OF INCOME TAX, HUBLI — C.A. No. 823 - 824/2002

Case Summary: M/S. Saraswathi Oil Traders v. Commissioner of Income Tax, Hubli Outcome: The Supreme Court allowed Saraswathi Oil Traders' civil appeals and set aside the High Court of Karnataka's order. The Court found that the question referred by Revenue under Section 256(2) of the Income Tax Act—concerning bogus purchases of groundnut cakes and unaccounted income from groundnut oil sales for AYs 1990-91 and 1991-92—did not constitute a question of law. The Tribunal had correctly declined to make the reference, and the High Court erred in overruling it without identifying a definite point of law. No costs were awarded. This case analysis is maintained by casestatus.in based on publicly available court records.