1996 (3) TMI 102 - HC - Income Tax

Summary

The High Court of Kerala directed the Income-tax Appellate Tribunal to refer two questions regarding investment allowance and deduction under section 80-I of the Income-tax Act, 1961, for consideration. The case involves an assessee engaged in mastication of rubber, with a dispute over whether they qualify as an industrial company. The Tribunal must prepare a detailed statement of the case and refer the questions to the High Court within three months.