Kerala High Court Certifies Scope of Income-tax Act Section 13; Importance of Explanation 2

The High Court of Kerala issued certificates of fitness for appeal to the Supreme Court under section 261 of the Income-tax Act, 1961 regarding the scope of Explanation 2 to section 13 in the context of the exclusion in section 13(1)(b) of the Act. The court deemed the question to be of general importance due to the absence of any binding decision from the Supreme Court or other High Courts on the matter.

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The High Court of Kerala issued certificates of fitness for appeal to the Supreme Court under section 261 of the Income-tax Act, 1961. The cases involved the scope of Explanation 2 to section 13 in the context of the exclusion in section 13(1)(b) of the Act. The court found the question to be of general importance with no binding decision of the Supreme Court or other High Courts on the matter.

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