1999 (9) TMI 65

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....ed by ARIJIT PASAYAT C. J.---On applications by the assessee under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), the following question has been referred for opinion of this Court, by the Income-tax Appellate Tribunal, Cochin Bench (in short "the Tribunal"). "Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the 'rejuvenation subsi....

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....re unsuccessful. On consideration of the application under section 256(1) of the Act, as indicated above, the question has been referred. Learned counsel for the assessee submitted that under section 10(30) of the Act, which was inserted by the Taxation Laws (Amendment) Act, 1970, with retrospective effect from April 1, 1969, subsidy received from the Tea Board under any scheme was allowed as a....

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....tea bushes as the Central Government may, by notification in the Official Gazette, specify : Provided that the assessee furnishes to the Assessing Officer, along with his return of income for the assessment year concerned or within such further time as the Assessing Officer may allow, a certificate from the Tea Board as to the amount of such subsidy paid to the assessee during the previous year....