2001 (11) TMI 40

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....e assessee had changed its previous year for the assessment year 1980-81, from 31st March to 30th September, 1979. The income considered for assessment for that year was for a period of 18 months. The assessee's claim that the specification of the sum of Rs. 72,000 under section 40(c) of the Act be increased by 50 per cent., on the ground that the limit specified in that section was normally meant....

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....ths or less. It applies to all previous years, the duration of which exceeds eleven months. The fact that in the case of the assessee the previous year extended to 18 months is, therefore, not a ground for applying a ceiling different from the one specified in the statute. The assessee's argument that the situation in which the assessee is now placed is not one which has been visualised by Parl....

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....0 on the occasion of the visit of the delegation and had incurred an expenditure of Rs. 19,760 as export inspection fees. Those claims had been disallowed by the Tribunal and the authorities below. The second question concerns the correctness of such disallowance. With regard to the expenditure on the visit of the delegation, the Tribunal has in its order observed that there was no material on rec....