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2003 (2) TMI 37 - HC - Income Tax"(i) Whether, Tribunal was right in law in holding that the assessee was entitled to deduction under section 35B of the Income-tax Act, 1961, on the guarantee commission of charges of Rs. 5,91,015 paid to E.C.G.C. on commission of Rs. 8,37,862 paid to Tata Exports and on 75 per cent. of the proportionate administrative expenses of Rs. 2,54,356? - (ii) Whether, Tribunal was right in law in deleting the addition of Rs. 29,983 made under section 37(2A) of the Income-tax Act on account of entertainment expenditure incur red by the assessee? - (iii) Whether, Tribunal was right in law in holding that the excess price of sugar collected over and above the control price fixed by the Government for the assessment year 1978-79, was not taxable as income of the assessee for said assessment year ? - the reference is partly allowed
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