https://www.taxtmi.com/caselaws?id=17628 The court held in favor of the Revenue for all issues presented in the case. The provisions of section 144B of the Income-tax Act, 1961 were deemed applicable for the assessment year 1974-75, including the non-allowability of weighted deductions under section 35B for freight and insurance. Additionally, the court ruled that surtax cannot be deducted when computing business income for the said assessment year and subsequent years 1976-77 and 1977-78. en-us Thu, 06 Feb 1997 00:00:00 +0530 Wed, 23 Sep 2009 17:31:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17628 The court held in favor of the Revenue for all issues presented in the case. The provisions of section 144B of the Income-tax Act, 1961 were deemed applicable for the assessment year 1974-75, including the non-allowability of weighted deductions under section 35B for freight and insurance. Additionally, the court ruled that surtax cannot be deducted when computing business income for the said assessment year and subsequent years 1976-77 and 1977-78. Case-Laws Income Tax Thu, 06 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17628