https://www.taxtmi.com/caselaws?id=58424 Weighted deduction under section 35B was upheld for commission, salary, bonus and postage incurred in India, following the precedent relied on by the Tribunal, so the Revenue's challenge failed. Loss on sale of an imported car, treated as a depreciable capital asset on which depreciation had been allowed, was recognised as a short-term capital loss and allowed to be set off against business income under section 71(3). Foreign travelling expenses were adjusted by limiting an excessive estimate-based disallowance, with corresponding partial relief in weighted deduction. The overall position was substantially favourable to the assessee, with full relief on the first two issues and only partial relief on the third. en-us Thu, 18 Jan 1979 00:00:00 +0530 Sat, 18 Dec 2010 18:49:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58424 Weighted deduction under section 35B was upheld for commission, salary, bonus and postage incurred in India, following the precedent relied on by the Tribunal, so the Revenue's challenge failed. Loss on sale of an imported car, treated as a depreciable capital asset on which depreciation had been allowed, was recognised as a short-term capital loss and allowed to be set off against business income under section 71(3). Foreign travelling expenses were adjusted by limiting an excessive estimate-based disallowance, with corresponding partial relief in weighted deduction. The overall position was substantially favourable to the assessee, with full relief on the first two issues and only partial relief on the third. Case-Laws Income Tax Thu, 18 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58424