1988 (8) TMI 153

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ation in this appeal is whether CIT (A) erred in allowing depreciation at 15 per cent on tools and implements. 2. We heard the rival submissions and considered material on record. The issue to be misconceived. The direction of CIT (A) in para 3 of his order is that ITO should verify if due under the relevant rules. Assessee has claimed 20 per cent in the ground of appeal before the CIT (A) and ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ging of interest under s. 201(1A) That issue has no been pressed at the time of hearing. 4. The last issue for our consideration in this appeal is whether CIT (A) erred in not allowing the weighted deduction as per s. 35B. On the travelling expenses of Dr. S.K. Somaiya, director of the Company. 5. We have heard the rival submissions and considered the material on record. The reason given by ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s expenses for the purpose of business After hearing the rival submissions in our view when once it is accepted that the tour is for the purpose of business and assessee is 100 per cent exporter, the claim on the expenses for weighted deduction cannot be disallowed merely because there was no export in the countries where the Director of the company has travelled tour can be to explore the foreign....