TMI Blog1989 (6) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... me-tax Act, 1961, for the assessment year 1975-76, the following questions of law have been referred to this court : " 1. Whether, on the facts and in the circumstances of the case, the assessee is entitled to weighted deduction under section 35B of the Income-tax Act, 1961, in its assessment for the accounting period relevant to the assessment year 1975-76 in respect of the amounts of Rs. 25,69,7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid decision, we answer the first question in the affirmative (sic) and in favour of the Revenue. The third question is also concluded by the decision of this court in the case of Molins of India Ltd. v. CIT [1983] 144 ITR 317. Following the said decision, we answer the third question in the negative and in favour of the Revenue. We now turn to the second question. The fact relating to the sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f an amount of Rs. 71,210 out of the said claim of Rs. 1,79,760. Aggrieved by the said order of the Commissioner of Income-tax (Appeals), the assessee brought the matter by way of appeal to the Tribunal. The Tribunal, after hearing both learned counsel for the assessee and the Departmental representative upheld the order of the Commissioner of Income-tax (Appeals ) by observing that, with respec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epting the Special Bench formula and allowing proportionate-deduction of expenditure. The Allahabad High Court referred to that circular in CIT v. Novelty Trading Corporation [1984] 150 ITR 453. The Allahabad High Court observed that the Central Board of Direct Taxes by its circular dated December 28, 1981, accepted the said decision of the Special Bench in so far as the question of allowability o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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