1996 (3) TMI 60

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....al), has filed this application under section 256(2) of the Income-tax Act, 1961 (for short, "the Act"), seeking direction to the Tribunal to state the case and refer the proposed questions of law, as extracted below, arising out of the order dated June 28, 1991, passed by it in I. T. A. No. 367/(Ind) of 1989 after rejection of its application registered as R. A. No. 253/(Ind) of 1991 on December ....

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....x subsidy of Rs. 38,631 which was treated by him as a revenue receipt. In appeal, the Commissioner of Income-tax (Appeals) held that the same was a capital receipt and accordingly deleted the addition. The applicant then filed an appeal before the Tribunal. Following the decision reported in CIT v. Dusad Industries [1986] 162 ITR 784 (MP), the Tribunal dismissed the appeal and upheld the order of ....