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TMI Blog1996 (2) TMI 131X X X X Extracts X X X X X X X X Extracts X X X X ..... ction from tax in respect of de-oiled cakes exported or sold to exporters by it under section 2(5)(a)(ii) and (iii) and section 2(5)(c) of the Finance Act, 1966, read with item No. 28 of the First Schedule to the Industries (Development and Regulation) Act, 1951, for the assessment year 1966-67 ? (2) Whether, on the facts and in the circumstances of the case, the assessee was entitled to claim deduction from income-tax in respect of de-oiled cakes exported or sold to exporters by it under section 2(4)(a)(ii) and (iii) and section 2(4)(c) of the Finance Act, 1967, read with item No. 28 of the First Schedule to the Industries (Development and Regulation) Act, 1951, for the assessment year 1967-68 ?" With a view to encourage export of indu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 of 1951), and has, during the previous year, exported such articles out of India, he shall be entitled, in addition to the deduction of income-tax referred to in sub-clause (i), to a further deduction, from the amount of income-tax with which he is chargeable for the assessment year, of an amount equal to the income-tax calculated at the average rate of income-tax on an amount equal to two per cent. of the sale proceeds receivable by him in respect of such export ; Explanation.--.... (iii) where he is engaged in the manufacture of any articles in an industry specified in the said First Schedule and has, during the previous year, sold such articles to any other person in India who himself has exported them out of India, and evidence is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditional deduction in respect of the said amounts under the provisions of section 2(5)(a)(ii) and (iii) of the Finance Act, 1966, and under section 2(4)(a)(ii) and (iii) of the Finance (No. 2) Act, 1967. The Income-tax Officer rejected the claim with reference to and relying upon clause (c) of section 2(5) of the Finance Act, 1966, and clause (c) of section 2(4) of the Finance (No. 2) Act, 1967. On appeal, the Appellate Assistant Commissioner agreed with the assessee's contention that clause (c) aforesaid refers to articles as such and not to industries and since de-oiled cake is not mentioned in clause (c), the assessee is entitled to additional deduction. The Tribunal affirmed the said view in appeal. At the instance of the Revenue, the T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... what we say. The pattern in the First Schedule is to mention an article under a heading [item] and then mention several categories thereof under the sub-headings [sub-items]. For example, item No. 2 in the First Schedule reads : "2. Fuels : (1) Coal, lignite, coke and their derivatives. (2) Mineral oil, (crude oil) motor and aviation spirit, diesel oil, kerosene oil, fuel oil diverse hydro-carbon oils and their blends including synthetic fuels, lubricating oils and the like. (3) Fuel gases--(coal gas, natural gas and the like)." Now, clause (c) adheres to the said pattern. Where it seeks to refer to the entire item in the First Schedule, it does so and where it seeks to refer only to a particular sub-item of an item in the First S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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