Export market and agricultural development allowances require recognised associations to maintain separate accounts enabling members' weighted deductions. Associations receiving subscriptions for export market and agricultural development must maintain proper accounts separately showing expenditure under sections 35B and 35C; have those accounts examined to ascertain and allocate expenditure on the specified activities; compute and circulate the proportionate expenditure to ITOs assessing individual members so members may claim the weighted deductions; account for any government subsidy or reimbursement before granting deductions; and a special circle under each CIT is to oversee associations, with an ITO specialising and issuing certified allocation orders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Export market and agricultural development allowances require recognised associations to maintain separate accounts enabling members' weighted deductions.
Associations receiving subscriptions for export market and agricultural development must maintain proper accounts separately showing expenditure under sections 35B and 35C; have those accounts examined to ascertain and allocate expenditure on the specified activities; compute and circulate the proportionate expenditure to ITOs assessing individual members so members may claim the weighted deductions; account for any government subsidy or reimbursement before granting deductions; and a special circle under each CIT is to oversee associations, with an ITO specialising and issuing certified allocation orders.
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