2003 (9) TMI 37

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..... Income-tax Act, 1961, in which the following question has been referred to us for our opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in concluding that the counter sales within India, against foreign currency, should be treated as export sales?" Heard learned counsel for the Department. Although the office report shows that on May 29, 1985, notice ha .....

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..... iture incurred in India in connection therewith or expenditure (wherever incurred) on the carriage of such goods to their destination outside India or on the insurance of such goods while in transit;" The expenditure referred to in sub-clause (iii) of section 35B(1)(b) refers to sales outside India and not within India. Hence in our opinion section 35B is not attracted at all to the sales in ques .....

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