TMI Blog1988 (12) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... ce under section 256(1) of the Income-tax Act, 1961, is made at the instance of the assessee in regard to the assessment years 1967-68 to 1970-71. Three questions are raised which read thus "(i) Whether, on the facts and in the circumstances of the case, for the purposes of section 40(c)(iii)/40(a)(v), what is to be taken into account is the value of the benefit or amenity or perquisite in the h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udgment in Bombay Burmah Trading Corporation Ltd. v. CIT [1984] 145 ITR 793 (Bom), the first question must be answered in the negative and in favour of the Revenue and the second must be answered in the negative and in favour of the assessee.. These questions are, accordingly, so answered. The third question which is contested arises in relation only to the assessment year 1970-71. The assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal drew support for its view from the provisions in regard to export markets development allowance that had appeared in the earlier Finance Acts. It also gave due regard to what it considered to be the rationale of section 35B. For our purposes, the relevant portions of section 35, which deal with export markets development allowance, are these: "(1)(a) Where an assessee, being a dome ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia in connection with, or incidental to, the execution of any contract for the supply outside India of such goods, services or facilities." it is not in dispute that the assessee satisfied all the requirements of section 35B, except in regard to the requirement, according to the Revenue, that the export should be made from India. To get the advantage of the deduction under section 35B, the expen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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