COMMISSIONER OF INCOME TAX Vs. RAVINDRA TUBES LIMITED

JUDGEMENT

(1.) THE Tribunal, Delhi 'C' Bench, Delhi referred to this Court the following two questions for its opinion :

(2.) FOR the purpose of answering these questions it may be necessary to refer to some relevant facts.

(3.) THE word "subsidy"has not been defined either in the scheme or under the Act. We have, therefore, to give it an ordinary meaning or the meaning that is understood in commercial parlance. In Black's Laws Dictionary (Sixth Edn.) "subsidy"is defined as under :