2007 (7) TMI 212

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....ssessment year 1981-82. The question of law as formulated in para 5 really pertains to weighted deduction. With the above a few facts may now be set out. The Assessing Officer rejected the assessee's claim of deduction under section 35B. The Commissioner of Income-tax (Appeals) accepted in principle that the assessee was entitled to deduction under section 35B. The Assessing Officer thereafter ....

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....should have been allowed for weighted deduction for the items aforestated other than salary and, therefore, held that these items would be eligible for weighted deduction to the extent of 50 per cent. of the expenses. The Tribunal concurred with the finding of the Commissioner of Income-tax (Appeals) that the salaries, allowances, provident fund contribution to the employees in overseas branches s....

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....essary for us to reproduce the same. In the light of that the Assessing Officer was directed to recompute the weighted deductions to the assessee under section 35B of the Act in accordance with the Act for both the assessment years 1980-81 and 1981-82. The Tribunal also noted that the assessee's appeal for the assessment year 1981-82 there are some grounds of appeal of which ground No. 2 seeks ....

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.... of the hearing our attention was invited on behalf of the respondents to the judgment in the CIT v. Piramal Spinning and Weaving Mills Ltd. [1980] 124 ITR 408 (Bom) to contend that the percentage which should be allowed to the assessee by way of weighted deduction was a question of estimation to be arrived at on the facts and the materials on the record and did not give rise to any question of la....