1998 (7) TMI 60 - HC - Income Tax

Summary

The High Court of Kerala remanded a case to the Appellate Tribunal regarding the taxability of a subsidy received by a Kerala Government undertaking for producing meat products. The Tribunal needs to determine if the subsidy was for capital purposes or for assisting in business operations. The Tribunal was directed to record a clear finding on the purpose of the subsidy before deciding the appeal.