Weighted deduction under Sec.35B: place of expenditure irrelevant except specific exclusion; apportionment and evidentiary burden required. Entitlement to weighted deduction under Section 35B depends on whether expenditure falls within clause (b) sub clauses; place of expenditure is irrelevant except for explicit exclusions in sub clause (iii). Composite and common expenses may be proportionately apportioned to qualifying activities. The assessee must prove that expenditures are incurred wholly and exclusively for specified activities. The Board agrees with the tribunal's interpretative principles but expresses reservations about specific factual apportionments, notably substantial salary allocations to export activities and treatment of insurance paid to export credit guarantee bodies.
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.
Weighted deduction under Sec.35B: place of expenditure irrelevant except specific exclusion; apportionment and evidentiary burden required.
Entitlement to weighted deduction under Section 35B depends on whether expenditure falls within clause (b) sub clauses; place of expenditure is irrelevant except for explicit exclusions in sub clause (iii). Composite and common expenses may be proportionately apportioned to qualifying activities. The assessee must prove that expenditures are incurred wholly and exclusively for specified activities. The Board agrees with the tribunal's interpretative principles but expresses reservations about specific factual apportionments, notably substantial salary allocations to export activities and treatment of insurance paid to export credit guarantee bodies.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
