1990 (11) TMI 67

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....een filed under section 256(2) of the Income-tax Act, 1961, by the Commissioner of Income-tax, Rajasthan. It is submitted by Shri V. K. Singhal, learned counsel, that the assessee-firm is dealing in the business of precious, semi-precious, rough stones and gold and silver articles including export and import of rough and precious stones. The assessee claimed deduction under the Explanation to sub....

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....tered as a small scale industrial undertaking either with the Director of Industries or with the Labour Department and has no plant or machinery. Therefore, the question whether the particular unit is an industrial undertaking is a pure question of law. It is submitted by Shri N. M. Ranka, learned counsel, that the assessee is an industrial undertaking and has tools and machinery the list of whic....

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....ult to examine the allowability of the claim." It means that the assessee-firm itself is not sure about its claim under section 35B of the Act. The claim under section 35B is admissible from April 1, 1978, only to an assessee who is engaged in the business of export of goods and is either a small scale exporter or a holder of an export house certificate. The assessee does not possess any certifica....