1994 (12) TMI 10

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....e Income-tax Appellate Tribunal, Bombay Bench "C", Bombay ("the Tribunal"), has referred the following question of law to us for our opinion under section 256(1) of the Income-tax Act, 1961 (for short "the Act"), at the instance of the Revenue : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was eligible for the export ma....

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....director of the assessee-company, was also the director of Kirkwood Ind. Inc., Cleveland, Ohio, U. S. A., of which the assessee-company was a collaborator. Mr. Kirkwood used to visit India occasionally and bring export orders from the U. S. A. and other countries. The expense for his air passage was borne by the assessee-company. The travelling expense incurred on him to visit India during the rel....

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....s reference at the instance of the Revenue. We have carefully considered the controversy in this case. Section 35B of the Act provides for grant of export markets development allowance (weighted deduction) in respect of expenditures specified therein incurred by an assessee during the previous year. The various expenditures in respect of which weighted deduction is allowed are specified in clau....