https://www.taxtmi.com/caselaws?id=66414 Weighted deduction under section 35C was available for expenditure on cleaning, grading, sorting, treating and scientifically processing seeds, but the allowance had to be recomputed item-wise in line with the Explanation by excluding consideration received for goods, services or facilities. Depreciation on the Vijayawada and Tanuku immovable properties was allowable because the assessee had possession, practical dominion and balance-sheet recognition of the assets, even though sale deeds were registered later. The amount credited to the price insurance account was not deductible, as it was only a reserve for possible future losses and not an ascertained liability incurred wholly and exclusively for the year. en-us Sat, 29 Jan 1983 00:00:00 +0530 Thu, 24 Feb 2011 15:52:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66414 Weighted deduction under section 35C was available for expenditure on cleaning, grading, sorting, treating and scientifically processing seeds, but the allowance had to be recomputed item-wise in line with the Explanation by excluding consideration received for goods, services or facilities. Depreciation on the Vijayawada and Tanuku immovable properties was allowable because the assessee had possession, practical dominion and balance-sheet recognition of the assets, even though sale deeds were registered later. The amount credited to the price insurance account was not deductible, as it was only a reserve for possible future losses and not an ascertained liability incurred wholly and exclusively for the year. Case-Laws Income Tax Sat, 29 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66414