Law: Income Tax Act, 1961

Section: 144,.35B

(a) Income-tax----Export markets development allowance---Weighted deduction--¬Commission---Facts showing that amount paid as commission was in reality a rebate on goods supplied---Weighted deduction was not allowable in respect of such payment---Indian Income Tax Act, 1961, S.35-B. (b) Income-tax--- ----Depreciation---Extra-shift allowance---Exclusion from extra-shift allowance---Electrical machinery---Meaning of "wiring" ---"Wiring" includes wiring for purposes of articles mentioned in the list---Indian Income Tax Act, 1961---Indian Income Tax Rules, 1962, Appex. I, Part 1. (c) Income-tax--- ----Assessment---Law applicable to assessment---Section 144-B inserted w.e.f. 1-1-1976 is applicable for assessment year 1975-76---Indian Income Tax Act, 1961, S.144-B. (d) Income-tax--- ----Business expenditure---Surtax is not deductible---Indian Income Tax Act, 1961. The provisions of section 144-B of the Income Tax Act, 1961, which were brought into the statute on January 1, 1976, were applicable for the assessment year 1975-76. (e) Words and phrases--- ......"Wiring"---Meaning. Carona Sahu Co. Ltd. v. CIT (1995) 213 ITR 106 (Bom.) fol. Surtax payable by the assessee is not deductible in arriving at the total income. Lubrizol India Ltd. v. CIT (1991) 187 ITR 25 (Bom.) fol. Part 1 of Appendix 1 to the income Tax Rules, 1962, contains the Table of rates at which depreciation is admissible. Item III (iv) thereof deals with extra-shift allowance. It provides, inter alia, that extra-shift allowance shall not be allowed in respect of the items of machinery or plant specified therein to which the general rate of depreciation of ten per cent. applies. Item (1) thereof reads as follows at the material time: (1) Electrical machinery-switchgear and instruments, transformers and other stationary plant and wiring and fittings of electric light and fan installations. Item (1) has two parts. The first part refers to "electrical machinery -switchgear and instruments, transformers and other stationary plant and wiring" and the other part refers to "fittings of electrical light and fan installations". In that view of the matter,. "wiring" referred to in Item (1) would mean and include…

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