Law: Income Tax Act, 1961

Section: 35,35B,256

Income-tax--Reference---Question of law---Export markets development allowance--­Weighted deduction---Sea freight and insurance charges whether in India or outside---Whether qualify for weighted deduction---Question of law---Indian Income Tax. Act, 1961, Ss.35-B & 256---[CIT v. Roadmaster Industries of India (P.) Ltd. (1998) 229 ITR.68 reversed on this point). The question whether the assessee was entitled to weighted deduction under section 35B of the Income Tax Act, 1961, on expenses on sea freight and insurance charges whether in India or outside is a question of law. CIT v. Roadmaster Industries of India ,(P.) Ltd. (1998) 229 ITR 68 reversed on this point. CIT v. Roadmaster Industries of India (P.) Ltd. (1993) 202 ITR 968 (P&H) ref. THIS ORDER PASSED BY: The High Court (see (1998) 229 ITR 68), declined to call for a reference at the instance of the Revenue of three questions. It did so in regard to the second question, with which alone we are now concerned, having regard to the statement on behalf of the Revenue made before us, on the ground that it was already covered by a judgment of that High Court in respect of the same assessee (CIT v.…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492