2001 (4) TMI 30

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....sment year 1980-81, four questions have been referred to us at the instance of the Revenue. The question identical to the first question was considered in a case concerning the same assessee in T. C. No. 846 of 1993-CIT v. Ashok. Leyland Ltd. [2001] 250 ITR 452 (Mad), decided on February 21, 2001, wherein, it was held that except the fee paid by the assessee to the export promotion council, the ot....

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....on of the Tribunal to entertain a new ground for the first time, if the facts required for answering the new plea are available on record. That part of the question is answered against the Revenue. So far as the second part of the second question is concerned, regarding the entitlement of the assessee to claim the benefit of section 35B of the Act for the interest paid to the bank on export bil....

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.... The fourth question concerns the interpretation of rule 6D of the Income-tax Rules as it stood for the relevant assessment year. The Tribunal took the view that the computation required to be made therein was to be made in respect of the travels of the employee during the assessment year, and not in respect of each travel. The Tribunal, in our view, was not correct in so holding. Rule 6D of the R....