https://www.taxtmi.com/caselaws?id=26468 The court upheld the denial of the assessee's claim for proportionate export rebate on qualifying income for the assessment years 1966-67 and 1967-68. It also confirmed the capital nature of expenditure incurred for issuing bonus shares, computation of average capital employed, and expenditure on repairing a room for IBM machines. However, the court allowed the higher development rebate on PVC compound and processing plants and relief under section 80E for profit from direct sale of PVC resin. Majority decisions were against the assessee, except on specific issues. en-us Fri, 28 Feb 1986 00:00:00 +0530 Fri, 05 Feb 2010 12:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26468 The court upheld the denial of the assessee's claim for proportionate export rebate on qualifying income for the assessment years 1966-67 and 1967-68. It also confirmed the capital nature of expenditure incurred for issuing bonus shares, computation of average capital employed, and expenditure on repairing a room for IBM machines. However, the court allowed the higher development rebate on PVC compound and processing plants and relief under section 80E for profit from direct sale of PVC resin. Majority decisions were against the assessee, except on specific issues. Case-Laws Income Tax Fri, 28 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26468