https://www.taxtmi.com/caselaws?id=58198 The Tribunal upheld the assessee's entitlement to agricultural development allowance under Section 35C, remanding the case for detailed scrutiny of expenses. It ruled in favor of the assessee regarding the deduction of central subsidy for depreciation/development rebate. The disallowance of managing director's remuneration was deferred for verification. The Tribunal clarified the allowance of weighted deduction for traveling expenses and upheld the denial of investment allowance due to the absence of a statutory reserve. The disallowance of insurance premiums under the group gratuity scheme was upheld. Appeals by the Revenue were allowed for statistical purposes. en-us Mon, 03 Apr 1989 00:00:00 +0530 Fri, 17 Dec 2010 17:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58198 The Tribunal upheld the assessee's entitlement to agricultural development allowance under Section 35C, remanding the case for detailed scrutiny of expenses. It ruled in favor of the assessee regarding the deduction of central subsidy for depreciation/development rebate. The disallowance of managing director's remuneration was deferred for verification. The Tribunal clarified the allowance of weighted deduction for traveling expenses and upheld the denial of investment allowance due to the absence of a statutory reserve. The disallowance of insurance premiums under the group gratuity scheme was upheld. Appeals by the Revenue were allowed for statistical purposes. Case-Laws Income Tax Mon, 03 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58198