1997 (7) TMI 59 - HC - Income Tax

Summary

The High Court of Karnataka allowed the appeal of a Government company regarding the approval of a trust fund for its employees. The Court quashed the order of the Central Board of Direct Taxes and directed the Board to reconsider the case under section 119(2)(b) of the Income-tax Act, 1961. The appeal was allowed, and the order of the single judge was set aside.