https://www.taxtmi.com/caselaws?id=68064 Depreciation on tools and implements depended on whether the assets fell within the relevant item in Appendix I of the Income-tax Rules, 1962, and the exact nature of the machines and tools required verification by the assessing authority before merits could be decided; the direction to verify the claim was therefore upheld. Weighted deduction under section 35B was allowable on a director's foreign travelling expenses because the travel was accepted as business-related in the context of an export business, and the fact that no exports were made in the countries visited did not by itself defeat the claim where the travel was directed to exploring foreign markets. The deduction was allowed. en-us Tue, 23 Aug 1988 00:00:00 +0530 Wed, 16 Mar 2011 17:08:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68064 Depreciation on tools and implements depended on whether the assets fell within the relevant item in Appendix I of the Income-tax Rules, 1962, and the exact nature of the machines and tools required verification by the assessing authority before merits could be decided; the direction to verify the claim was therefore upheld. Weighted deduction under section 35B was allowable on a director's foreign travelling expenses because the travel was accepted as business-related in the context of an export business, and the fact that no exports were made in the countries visited did not by itself defeat the claim where the travel was directed to exploring foreign markets. The deduction was allowed. Case-Laws Income Tax Tue, 23 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68064