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2004 (10) TMI 59 - HC - Income TaxEntitlement to weighted deduction under section 35B in respect of expenses incurred on export levy and on carriage of goods, while on transit - Entitlement of extra shift allowance in regard to machinery added during the year - Inclusion of the amount of depreciation and value of rent-free accommodation and its maintenance towards perquisite while working out disallowance under section 40A(5) – Held that cash incentive received by the applicant under the Export Promotion Scheme is clearly chargeable to income-tax under the head "Profits and gains of business or profession." Thus the Tribunal was justified in upholding the addition. - In respect of weighted deduction claimed under section 35B(iii) of the Act it may be mentioned there that the weighted deduction is allowable only if they are wholly exclusively incurred for any of the purposes men tioned in various sub-clauses of section 35B(1)(b) - applicant is not entitled for weighted deduction in respect of expenses incurred on export levy and on carriage of goods and insurance while on transit which has been incurred in India – Held that Tribunal was not justified in restricting the allowance of extra shift to the number of days during which the new machinery or plant had actually worked. It was allowable on the basis of the number of days during which the applicant had actually worked double or triple shift.
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