1988 (7) TMI 46

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....eference under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Jabalpur Bench, Jabalpur, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the sales tax subsidy granted to an industry under the Madh....

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....In this view of the matter, the appeal preferred by the assessee in that behalf was dismissed. On further appeal before the Tribunal, the Tribunal held that the subsidy constituted a capital receipt. The Tribunal, therefore, allowed the appeal preferred by the assessee in that behalf. Aggrieved by the order passed by the Tribunal, the Revenue sought a reference and it is at the instance of the Rev....